In March 2023 the Consumer Price Index decreased by 0.2 percent compared to the previous month, while the annual inflation rate amounted to 5.3 percent. With regard to the annual core inflation, the prices increased by 5.0 percent, while the annual core inflation without tobacco2 also amounted to 5.0 percent. The following table shows percentage changes in prices for the commodity groups of the consumer basket as well as the relevant contributions to the overall monthly inflation rate.

The monthly inflation rate was mainly influenced by price changes for the following groups:

• Transport: the prices for the group decreased by 2.3 percent, contributing -0.27 percentage points to the overall index. Within the group the prices decreased for the subgroup of operation of personal transport equipment (-3.5 percent);
• Furnishings, household equipment, and maintenance: the prices for the group decreased by 1.3 percent, contributing -0.07 percentage points to the overall index. Within the group the prices decreased for the following subgroups: household appliances (-1.8 percent), furniture and furnishings, carpets and other floor coverings (-1.5 percent), and goods and services for routine household maintenance (-1.5 percent). At the same time, prices increased for household textiles (1.5 percent);
• Alcoholic beverages and tobacco: the prices increased by 1.1 percent, contributing 0.08 percentage points to the overall index. The prices increased for tobacco (2.0 percent);
• Clothing and footwear: the prices increased by 1.6 percent, contributing 0.06 percentage points to the overall monthly inflation rate. Within the group, the prices were higher for both footwear (3.6 percent) and clothing (1.1 percent).

Source: National Statistics Office of Georgia

See detailed information: https://www.geostat.ge/media/52649/Inflation-Rate-in-Georgia%2C-March-2023.pdf