Annual inflation at 12.8% in August, breaking 10 year record high
The economic activity rate, the percentage of the country’s population that is able and willing to work regardless of labour status, meanwhile has increased by 1.1 percentage points in the second quarter of 2021. Photo: Nino Alavidze/Agenda.ge.
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The consumer price index has increased by 0.7 per cent compared to the previous month, while the annual inflation rate amounted to 12.8 per cent, the National Statistics Office of Georgia (Geostat) reports.
With regard to the annual core inflation, the prices increased by 6.7 per cent, while the annual core inflation without tobacco amounted to 6.8 per cent,” Geostat says.
The monthly inflation rate was mainly influenced by price changes for the following groups:
- Food and non-alcoholic beverages (+1.4%)
- Transport (+1.1%)
- Restaurants and hotels (+1.8%)
- Housing, water, electricity, gas and other fuels (+0.8%)
Image: Geostat.
The annual inflation rate was mainly influenced by price changes for the following groups:
- Food and non-alcoholic beverages (+16.2%)
- Transport (+22.5%)
- Housing, water, electricity, gas and other fuels (+11.6%)
- Health (+10.9%)
Image: Geostat.
The economic activity rate, the percentage of the country’s population that is able and willing to work regardless of labour status, meanwhile has increased by 1.1 percentage points in the second quarter of 2021, while the employment rate decreased by 1.0 percentage points and equalled 40.1 per cent compared to the same period of 2020.
Commercial banks in Georgia lent 39.60 billion GEL and received deposits of 35.12 billion GEL in July 2021, show the latest data by the National Bank of Georgia (NBG). The amount of deposits increased by 1.72%% month-on-month, while loans also increased by 0.98%. There are 15 commercial banks in Georgia, including 14 foreign-owned banks and one branch of non-resident banks.
The unemployment rate in Georgia has increased 3.8 per cent in the second quarter of 2021 compared to the same period of last year, amounting to 22.1 per cent, the National Statistics Office of Georgia (Geostat) reports.
Georgia received $201.9 million from abroad in June 2021, which is 19.3% more than the amount in June 2020, says the National Bank of Georgia. Russia ($39.08 million), Italy ($31.70 million) and the United States ($24.98 million) were the largest remittance senders in June 2021.
The Georgian central bank is leaving the refinancing rate unchanged at 9.5% following a meeting of the monetary policy committee, whose decisions on changes to the monetary policy rate rely on current and expected developments in the economy and financial markets.
The Georgian central bank is leaving the refinancing rate unchanged at 10% following a meeting of the monetary policy committee, whose decisions on changes to the monetary policy rate rely on current and expected developments in the economy and financial markets.
Commercial banks in Georgia lent 40.07 billion GEL and received deposits of 35.41 billion GEL in August 2021, show the latest data by the National Bank of Georgia (NBG). The amount of deposits increased by 0.82% month-on-month, while loans also increased by 1.21%. The sum of term deposits increased by 0.36%, while demand deposits, which allow for flexible withdrawal, increased by 1.19%.
In September the consumer price index has increased by 0.2% compared to the previous month, while the annual inflation rate amounted to 12.3%, the National Statistics Office of Georgia (Geostat) reports. "With regard to the annual core inflation, the prices increased by 6.3%, while the annual core inflation without tobacco amounted to 6.3%,” Geostat says.
The Consumer Price Index in October 2021 increased by 1.3% compared to the previous month, while the annual inflation rate in Georgia stood at 12.8%, the latest inflation data of the National Statistics Office of Georgia (Geostat) show.
The head of the National Bank of Georgia (NBG) Koba Gvenetadze says annual inflation will be higher than earlier expected.
The unemployment rate in Georgia has increased by 2.5% in the third quarter of 2021 compared to the same period of last year, amounting to 19.5%, the National Statistics Office of Georgia (Geostat) reports.