About Civil.ge
Eng | Geo | Rus
Last updated: 00:44 - 22 Oct.'17
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 Oct.'17 00:44
GDDG Leads in Imedi-Commissioned Exit Poll
Exit poll results show Kakha Kaladze winning outright victory in the mayoral race in Tbilisi.
22 Oct.'17 00:06
Opposition Candidates React to Exit Poll Results
Rustavi 2 TV exit poll put the ruling party candidate in decisive lead over his opponents in Tbilisi.
21 Oct.'17 23:14
GDDG Celebrates ‘Very Important’ Election Victory
The ruling party leaders addressed their supporters and activists outside the GDDG headquarters in Tbilisi.
21 Oct.'17 21:42
Municipal Elections Vote Count Underway
1,569,992 voters cast ballot in the elections, accounting for 45.64% of the total number of voters.
21 Oct.'17 20:29
Rustavi 2 Exit Poll Gives Lead to Ruling Party
As of 18:00, Kakha Kaladze garnered 54% of the vote, winning the mayoral office without runoff elections.
21 Oct.'17 18:23
CEC: Voter Turnout 36.71% at 5pm
Voter turnout figure in the capital is 34.7%.
21 Oct.'17 16:20
CEC: Voter Turnout 29.84% at 3pm
Voter turnout figure in the capital is 27.7%.
21 Oct.'17 13:09
CEC: Voter Turnout 16.5% by Noon
The highest turnout was reported in Racha-Lechkhumi and Kvemo Svaneti and the lowest in Shida Kartli.
21 Oct.'17 12:15
Tbilisi Mayoral Candidates Cast Ballots
Elene Khoshtaria, Kakha Kaladze, Zaal Udumashvili and Aleko Elisashvili voted in the municipal elections.
21 Oct.'17 12:14
CEC: Voter Turnout 6.74% at 10am
The highest turnout was reported in Racha-Lechkhumi and Kvemo Svaneti and the lowest in Shida Kartli.

About Civil Georgia
Civil.Ge © 2001-2017, Daily News Online
Registered office: 2 Dolidze Str, 4-th Floor.
98