How much prices have increased in Georgia and how they will change in the near future
According to importers, the fall in the exchange rate of the lari will lead to an inevitable increase in prices, but the authorities are taking measures to prevent this.
The annual inflation rate in March was 6.1% with a target of 3%, according to the materials Of the national statistics service "Sakstat" (Gruzstat).
Food prices increased by 13.4% over the year.
How have prices for industrial products changed in Georgia .
In March, compared to February, prices rose by 0.7%.
Will prices increase in the near future
IVA Chkonia, President of the business Association of distributors of Georgia, believes that there are almost no good expectations for the price level.
The exchange rate of the lari against the dollar began to fall on March 9, when the uncertainty with the coronavirus pandemic was overlaid by a sharp drop in oil prices on world markets. By the end of March, the lari had fallen by almost 20%.
To contain the fall of the lari and minimize the impact of the exchange rate on inflation, the national Bank has implemented three interventions in the amount of 100 million dollars.
"The most important thing that hits us is the lari exchange rate, which is always the number one problem for importers, distributors and even manufacturers. Because they buy raw materials in an international currency-in dollars or euros, " Chkonia said in an interview with Sputnik Georgia.
According to him, Georgia ranked first in the world for devaluation of the national currency.
"The budget of importers is calculated at the level of 2.96-2.97 lari to the dollar. Based on this, all of us have calculated the maximum price of 3.0. and now we work almost at cost. Maybe there are companies that sell, but there is no profit from there, and how long they can survive in this situation, " the President of the Association said.
At the same time, he expressed that the lari will return to its old positions, as the national Bank is doing a lot for this.
"But if the exchange rate of the lari is not stable for a week or 10 days, of course, prices will rise for all products, except those that are subsidized by the government, and for those companies that participate in subsidies," Chkonia said.
Over the past week, the exchange rate of the lari against the dollar has strengthened by 9.5% and amounted to 3.1576 GEL/$1.
sputnik-georgia.ru
Tags:
How much prices have increased in Georgia and how they will change in the near future
According to importers, the fall in the exchange rate of the lari will lead to an inevitable increase in prices, but the authorities are taking measures to prevent this.
The annual inflation rate in March was 6.1% with a target of 3%, according to the materials Of the national statistics service "Sakstat" (Gruzstat).
Food prices increased by 13.4% over the year.
How have prices for industrial products changed in Georgia .
In March, compared to February, prices rose by 0.7%.
Will prices increase in the near future
IVA Chkonia, President of the business Association of distributors of Georgia, believes that there are almost no good expectations for the price level.
The exchange rate of the lari against the dollar began to fall on March 9, when the uncertainty with the coronavirus pandemic was overlaid by a sharp drop in oil prices on world markets. By the end of March, the lari had fallen by almost 20%.
To contain the fall of the lari and minimize the impact of the exchange rate on inflation, the national Bank has implemented three interventions in the amount of 100 million dollars.
"The most important thing that hits us is the lari exchange rate, which is always the number one problem for importers, distributors and even manufacturers. Because they buy raw materials in an international currency-in dollars or euros, " Chkonia said in an interview with Sputnik Georgia.
According to him, Georgia ranked first in the world for devaluation of the national currency.
"The budget of importers is calculated at the level of 2.96-2.97 lari to the dollar. Based on this, all of us have calculated the maximum price of 3.0. and now we work almost at cost. Maybe there are companies that sell, but there is no profit from there, and how long they can survive in this situation, " the President of the Association said.
At the same time, he expressed that the lari will return to its old positions, as the national Bank is doing a lot for this.
"But if the exchange rate of the lari is not stable for a week or 10 days, of course, prices will rise for all products, except those that are subsidized by the government, and for those companies that participate in subsidies," Chkonia said.
Over the past week, the exchange rate of the lari against the dollar has strengthened by 9.5% and amounted to 3.1576 GEL/$1.
sputnik-georgia.ru
Tags:
