BAKU, Azerbaijan, November 6
By Tamilla Mammadova – Trend:
According to the forecast of the National Bank of Georgia, all other things being equal, the downward trend in annual inflation will continue and will be close to the target inflation in 2021, Trend reports via Georgian media.
As the bank said, after the pandemic, due to measures to contain the spread of the virus, rising costs for the delivery of certain goods and services and a depreciation of the exchange rate led to an increase in inflation in the spring, but there has been a downward trend since May.
“The Monetary Policy Committee began easing monetary policy in April and cut the interest rate by a total of 1 percentage point. in April-September. The price dynamics in recent months is in line with the National Bank's forecast. Annual inflation fell to 3.8 percent in September and October. The downward trend in inflation will continue and will be close to the inflation target in 2021. The expected dynamics of inflation is mainly determined by weak aggregate demand, especially the decrease in external demand," explains the NBG.
In October 2020, compared to the previous month, the inflation rate in Georgia was 0.8 percent, and the annual inflation rate was 3.8 percent.
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