About Civil.ge
Eng | Geo | Rus
Last updated: 11:51 - 22 May.'15
 
RSS
Mobile
Twitter
Facebook
Annual Inflation Down to 10% in June - Geostat
Civil Georgia, Tbilisi / 4 Jul.'11 / 14:28

Georgian state statistics agency said on Monday, that country’s year-on-year rate of inflation fell from 14.3% in May to 10% in June, helped mainly by a month-on-month fall in food prices.

Food prices fell 8.9% in June, leaving the year-on-year increase in food costs at 22.2%, down from 30.7% year-on-year in May, according to Geostat.

The agency said that “significant” month-on-month fall in price was registered on fruits (28.6%); vegetables (26.2%) and sugar (5.7%).

Geostat’s figures do not provide more detailed monthly breakdown, including information on change of price on meat, which has significantly increased in the capital Tbilisi in June. There have been allegations that, although some senior government officials attributed price hike to need of putting EU food safety standards in practice, the price increase was a result of near-monopolistic nature of slaughterhouses business, allegedly patronized by the authorities.

Price on meat increased 26.4% year-on-year in June; fruits – 34.3%; food oil – 29.2%; bread and other wheat-containing products – 23%.

Fuel prices increased 21% y/y and there was 13.1% y/y decrease in prices for communications services in June, according to Geostat.

National Bank of Georgia (NBG) kept refinancing rate at 8% on June 22 for a fourth consecutive month saying that inflation will go down to 8% by the end of year.

NBG also said in late June that annual core inflation, excluding food and fuel prices, “is still low”. “Hence the demand-side inflation risks are low,” the central bank said.

Latest News
22 May.'15 11:51
Preparations Underway for Marking Independence Day
Some of the central squares and streets will be closed to traffic in runup to and during events.
21 May.'15 23:02
Georgian PM: ‘We Expect to Get EU Visa Waiver Maybe Next Year’
“Political decision has already been made, now technical procedures remain,” the PM said in Riga.
21 May.'15 21:56
EU’s Tusk: ‘Riga Summit Not About Announcing Giant Steps’
Partnership with its Eastern partners will go forward “step-by-step”, President of European Council said.
21 May.'15 19:51
C.Bank Chief Says ‘No Additional Pressure on GEL Expected in Medium Term’
Lari gained 3% on May 21, rising to a one-month high against U.S. dollar.
21 May.'15 15:20
Merkel Says Georgia, Ukraine Not Yet Ready for EU Visa Waiver
“A lot still needs to be done” by Georgia and Ukraine in this regard, she said ahead of EaP summit.
20 May.'15 22:24
Georgian PM in Riga for Eastern Partnership Summit
Garibashvili also plans bilateral meetings with some European leaders on the sideline of the summit.
20 May.'15 15:09
EU’s Tusk on Chances of Visa-Free Travel for Georgia and Ukraine
EU visa-free travel for these countries “quote possible” in 2016, depends on their efforts, he said.
20 May.'15 13:10
Georgia, Iran Explore Ways to Boost Economic Ties
With nuclear deal in sight, Tbilisi should be ready to intensify ties with Iran, Georgian officials say.
19 May.'15 16:38
Head of Georgian Church: ‘Our European Choice is Very Firm’
“Georgia has chosen the European path… and we will definitely achieve it,” he said.
19 May.'15 15:58
Regulator Rejects Water Rate Hike in Tbilisi
Water company in Tbilisi said decision violates privatization agreement with the government.

About Civil Georgia
Civil.Ge © 2001-2013, Daily News Online
Registered office: 2 Dolidze Str, 4-th Floor.
56