BAKU, Azerbaijan, Feb.3
By Tamilla Mammadova – Trend:
Georgia’s inflation rate will stand at 4 percent in 2021, President of the National Bank of Georgia (NBG) Koba Gvenetade said, Trend reports via Georgian media.
“We believe a tight monetary policy should be maintained for longer. The refinancing rate is the most important instrument to control inflation,” Gvenetadze said.
The prices of food, non-alcoholic beverages, transport and housing, water, electricity, gas, and other fuels have increased in Georgia month-on-month, said the National Statistics Office of Georgia (Geostat).
Specifically, the prices of food and non-alcoholic beverages increased 2 percent. Prices increased for:
- Vegetables (6.1 percent)
- Fruit and grapes (4.4 percent)
- Oils and fats (4.3 percent)
- Milk, cheese, and eggs (4 percent)
- Fish (1.1 percent)
- Transport prices increased by 1.4 percent.
Within the group, prices increased for the operation of personal transport equipment (2 percent).
Prices in the group of housing, water, electricity, gas, and other fuels increased by 1.9 percent. The prices were higher for the following subgroups:
- Water supply and miscellaneous services relating to the dwelling (4.3 percent)
- Electricity, gas, and other fuels (2.1 percent)
Overall, in January 2021 the consumer price index increased 1.1 percent compared to the previous month, while the annual inflation rate amounted to 2.8 percent.
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