About Civil.ge
Eng | Geo | Rus
Last updated: 01:04 - 23 Jun.'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
23 Jun.'17 01:04
Moscow Cuts ‘Investment’ Funding for Tskhinvali
90% of South Ossetia’s budget for 2017 was subsidized by the Russian Federation.
22 Jun.'17 17:20
Crime Wave Stirs Public Outcry in Abkhazia
Public demands action to stop “lawlessness” in the region, authorities promise to investigate the cases.
21 Jun.'17 16:59
Senior MEP: Mukhtarli Case ‘Very Alerting’
Rebecca Harms called for “an independent investigation” both in Azerbaijan and Georgia.
21 Jun.'17 16:16
Parliamentary Opposition Renews Calls for Plebiscite over Constitution Reform
Movement for Liberty - European Georgia submitted 150,000 signatures to the Government administration.
21 Jun.'17 14:21
Venice Commission on Georgia’s New Constitution
The Council of Europe’s (CoE) advisory body for legal affairs released its opinion on June 19.
21 Jun.'17 11:48
FM Janelidze Joins EaP Ministerial in Luxemburg
Federica Mogherini chaired the EU and EaP foreign ministers’ gathering to discuss further cooperation.
20 Jun.'17 19:05
PACE Media Freedom Rapporteur on Mukhtarli Case
Volodymyr Ariev calls for immediate release of Azerbaijani journalist.
20 Jun.'17 18:23
Prime Minister Kvirikashvili on Mukhtarli Case
Giorgi Kvirikashvili calls for avoiding “premature conclusions” over the Azerbaijani journalist’s case.
20 Jun.'17 17:40
President Declines Request for Convening Special Parliamentary Session
Margvelashvili caled on the Parliament to continue working on a ‘consensual’ text of the constitution.
20 Jun.'17 16:07
Georgian Journalists Request Meeting with PM Kvirikashvili
Journalists speak of ‘delayed’ investigation and unaddressed questions in Afgan Mukhtarli’s case.

About Civil Georgia
Civil.Ge © 2001-2017, Daily News Online
Registered office: 2 Dolidze Str, 4-th Floor.
85