The head of the National Bank of Georgia (NBG) Koba Gvenetadze says annual inflation will be higher than earlier expected.
Gvenetadze stated that the NBG projected a reduction in annual inflation to 6% in March, though he noted that inflation will not decrease as expected due to rising prices of oil and wheat.
He also stated that rising international prices are affecting inflation.
For example, oil, which is now about twice as expensive as a year ago, as well as food prices have increased quite a bit,” said Gvenetadze.
The monthly inflation rate was mainly influenced by price changes in the groups of food and non-alcoholic beverages and clothing and footwear.