BAKU, Azerbaijan, Dec.7
By Tamilla Mammadova – Trend:
Aleqsandre Bluashvili, Head of the Macro-Financial Analysis Division at TBC Capital, predicts the inflation rate in Georgia, Trend reports via Georgian media.
"Total inflation has been at 3.8 percent for the last 3 months and we do not have a change in terms of annual inflation as well. According to our initial forecast, inflation should have been around 3.5 percent late this year, but it is expected to be slightly higher than 4 percent in December. However, this dynamic will continue in the first quarter," Bluashvili said.
According to Bluashvili, the GDP decline in 2021 will be around 5.4 percent.
The monthly inflation rate in November was mainly influenced by price changes for the food and non-alcoholic beverages: the prices in the group increased by 1.8 percent, contributing 0.58 percentage points to the overall monthly inflation rate.
The prices were higher for the vegetables (7.6 percent), milk, cheese and eggs (4.7 percent), oils and fats (4.1 percent), sugar, jam, honey, chocolate, and confectionery (1.4 percent). The prices were lower for the subgroup of fruit and grapes (-7.8 percent).
The prices of transport increased by 1.1 percent, contributing 0.13 percentage points to the overall monthly inflation rate. Within the group, the prices increased for purchase of vehicles (2.2 percent) and operation of personal transport equipment (1.5 percent).
The prices on furnishings, household equipment, and maintenance increased by 0.8 percent, with a relevant contribution of 0.05 percentage points to the overall monthly inflation rate. The prices increased for household textiles (2.6 percent).
The annual inflation rate amounted to 3.8 percent.
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