December 2021: annual inflation rate up to 13.9%
Economy Minister Natia Turnava stated on December 16 that the inflation rate in Georgia will return to 3% by the end of 2022 and noted that high inflation is ‘one of the most important issues’ the Georgian population currently faces. Photo: Nino Alavidze/Agenda.ge.
Tweet 
Share
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.
With regard to annual core inflation, [excluding food and non-alcoholic beverages, energy, regulated tariffs, transport], prices increased by 5.9%, while annual core inflation without tobacco also amounted to 6%,” Geostat reports.
The monthly inflation rate was mainly influenced by price changes in the following groups:
- Food and non-alcoholic beverages (+0.8%)
- Restaurants and hotels (+0.9%)
- Clothing and footwear (-1.4%)
While the annual inflation rate was mainly influenced by price changes in the following groups:
- Food and non-alcoholic beverages (+15.6%)
- Transport (+17.3)
- Housing, water, electricity, gas and other fuels (+43.5%)
Image: Geostat.
Prices in December were higher for the following subgroups:
- Fish (+2.3%)
- Sugar, jam, honey, chocolate and confectionery (+2%)
- Milk, cheese and eggs (+1.9%)
- Vegetables (+1.8)
- Oils and fats (+0.9)
However, the prices of fruits decreased by 0.7% in December.
Economy Minister Natia Turnava stated on December 16 that the inflation rate in Georgia will return to 3% by the end of 2022 and noted that high inflation is ‘one of the most important issues’ the Georgian population currently faces.
Meanwhile, Georgia’s estimated GDP increased in November 2021 compared to the same period last year, and totalled 12% year-on-year, while in January-November of 2021 year-on-year growth amounted to 10.7%.
The inflation rate in Georgia will return to 3% by the end of 2022, Economy Minister Natia Turnava stated earlier today, noting that high inflation is ‘one of the most important issues’ the Georgian population currently faces.
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 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 circulation term of Georgian Lari (GEL) banknotes issued in 1995 and 1999 expired on January 1, 2022, the National Bank of Georgia (NBG) reports. Banknotes of all GEL denominations issued since 2002 are legal tender across the country.
Georgia has received 229.5 million USD from abroad in December 2021, which is 14.9% more than the amount received in December 2020, the National Bank of Georgia (NBG) reports.
The estimated real Gross Domestic Product (GDP) increased by 12% in November 2021 year-on-year, and by 10.7% in January-November of this year, the latest data from the National Statistics Office of Georgia (Geostat) show.
The National Bank of Georgia (NBG) has decided to keep the refinancing rate unchanged at 10.5 percent at a meeting of the Monetary Policy Committee (MPC) earlier today. A “particular concern” for increased inflation was named by the bank in its comments, with the Consumer Price Index growing by 0.3 percent in December 2021 and the annual inflation rate amounting to 13.9 percent in the country.
The Consumer Price Index in Georgia increased by 1.1 percent in January 2022 compared to the previous month, while the annual inflation rate stood at 13.9 percent, the latest inflation data of the National Statistics Office of Georgia (Geostat) shows.
Commercial banks in Georgia loaned 43.03 billion GEL and received deposits of 37.16 billion GEL in December 2021, the National Bank of Georgia (NBG) says. The volume of loans has increased by 1.63 billion GEL (3.93%) in December compared to the same period last year. The number of deposits also increased by 1.42 billion GEL (3.96%) month-on-month.
Remittances to Georgia from abroad hit $334.3 million in August, a 63.1 percent increase on the corresponding figure from the same month of last year, the National Bank of Georgia said on Thursday.