October 2021: annual inflation rate up to 12.8%
Meanwhile, the estimated real GDP growth rate in September 2021 amounted to 6.9% year-on-year, while in January-September of 2021 year-on-year growth amounted to 11.3%, Geostat reported earlier. Photo: Nino Alavidze/Agenda.ge.
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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.
With regard to the annual core inflation, [which is calculated by excluding food and non-alcoholic beverages, energy, regulated tariffs, and transport from the consumer basket], the prices increased by 6.3%, while the annual core inflation without tobacco amounted to 6.2%,” Geostat reports.
The monthly inflation rate was mainly influenced by price changes in the following groups:
- Food and non-alcoholic beverages (+3%)
- Clothing and footwear (+9.2%)
While the annual inflation rate was mainly influenced by price changes in the following groups:
- Food and non-alcoholic beverages (+18.4%)
- Transport (+19.6%)
- Housing, water, electricity, gas and other fuels (+11.9%)
- Health (+8.4%)
Image: Geostat.
The prices were higher for the following subgroups:
- Vegetables (+9%)
- Bread and cereals (+5.5%)
- Fish (+4.2%)
- Milk, cheese and eggs (+3.6%)
- Sugar, jam, honey, chocolate and confectionery (+1.2%)
However, the prices of fruit decreased by 1.1%.
Meanwhile, the estimated real GDP growth rate in September 2021 amounted to 6.9% year-on-year, while in January-September of 2021 year-on-year growth amounted to 11.3%, Geostat reported earlier.
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 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.
The prices of transport, restaurants and hotel food, furnishings, household equipment and maintenance have increased in Georgia month-on-month, according to the latest inflation data from the National Statistics Office of Georgia (Geostat).
In June 2021 the consumer price index increased by 0.7% compared to the previous month, while the annual inflation rate amounted to 9.9%, show to the latest inflation data from the National Statistics Office of Georgia (Geostat). As for annual inflation, prices increased in the group of transport (+22%), housing, water, electricity, gas and other fuels (10.05%) and food and non-alcoholic beverages (+8.8%).
The number of people receiving social assistance in Georgia has reached 633,000 in October 2021, Social Service Agency reports. As of today, 17% of the Georgian population receive social assistance, while the total amount of allowance given to the socially vulnerable exceeded 43 million GEL (about $13.61 m. / €11.79 m.) in October.
The head of the National Bank of Georgia (NBG) Koba Gvenetadze says annual inflation will be higher than earlier expected.
Girchi - More Freedom opposition party members have been selling coffee outside the National Bank of Georgia in USD and cryptocurrency earlier today to protest against the current financial regulations that only recognize Georgian lari (GEL) as legal tender. The party members blame the National Bank for inflation, and say that the organisation is obliged to stabilise the prices in the country.
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.
The Georgian government will present a programme in the upcoming weeks which will provide socially vulnerable citizens who are fit for work with jobs instead of social assistance, Georgian Prime Minister Irakli Garibashvili said today.
The Consumer Price Index in November 2021 grew by 0.6% compared to the previous month, while the annual inflation rate in Georgia stood at 12.5%, the latest inflation data of the National Statistics Office of Georgia (Geostat) show.
The Consumer Price Index in December 2021 grew by 0.3% compared to the previous month, while the annual inflation rate in Georgia stood at 13.9%, the latest inflation data of the National Statistics Office of Georgia (Geostat) show.
The National Bank of Georgia (NBG) has increased the refinancing rate by 0.5 percentage points to 10.5% earlier today at the Monetary Policy Committee (MPC). The NBG states that increased inflation has been one of the main challenges for Georgia in recent years.