Annual Inflation Drops Below Zero in August

Inflation dipped by 0.4% on an annual basis in August, according to the Georgian state statistics office Geostat.

Annual inflation rate was again pushed into negative territory in August, following a 0.6% increase in July and five previous consecutive months of deflation.

Food prices declined 2.8% in August year-on-year, as well as prices on clothing and footwear (-7.6%); transportation prices rose 0.4%.

On the monthly basis inflation rose 0.1% in August, according to Geostat.

National Bank of Georgia (NBG) kept its main policy rate at 5.75% in August after reducing it by 25 basis points in June.

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