Prices in Georgia are rushing up: new statistics on inflation

2021/04/03-1617433879.jpg
Read: 914     14:00     03 Апрель 2021    

In March of this year, annual inflation doubled, and monthly-almost four times, mainly due to the increase in the cost of utilities.

Annual inflation (March 2021 to March 2020) in Georgia was 7.2%, with a target of 3%, according to the National Statistics Service "Sakstat" (Gruzstat).

In March 2021, compared to February 2021, the inflation rate was 4.2%. In February, the monthly inflation rate was 1.1%.

According to "Sakstat", in March, monthly inflation was 36% due to rising prices for utilities.

At the end of last year, consumer tariffs for electricity, gas and water increased in Georgia, but the government decided to subsidize public spending on utilities.

During the pandemic, the Georgian authorities decided to subsidize the cost of utilities to citizens whose use of electricity does not exceed 200 kW/h and no more than 200 cubic meters of natural gas.

This decision affected the level of inflation, which was below the target level for two months, but the program was partially completed in March, which caused an increase in inflation.

In March, compared to February, prices decreased for clothing and shoes (1.9%), and increased, in addition to utilities, for healthcare (3.6%), hotels and restaurants (2.6%) and transport (2.6%). In March, food prices rose by 1.5%.

sputnik-georgia.ru





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Prices in Georgia are rushing up: new statistics on inflation

2021/04/03-1617433879.jpg
Read: 915     14:00     03 Апрель 2021    

In March of this year, annual inflation doubled, and monthly-almost four times, mainly due to the increase in the cost of utilities.

Annual inflation (March 2021 to March 2020) in Georgia was 7.2%, with a target of 3%, according to the National Statistics Service "Sakstat" (Gruzstat).

In March 2021, compared to February 2021, the inflation rate was 4.2%. In February, the monthly inflation rate was 1.1%.

According to "Sakstat", in March, monthly inflation was 36% due to rising prices for utilities.

At the end of last year, consumer tariffs for electricity, gas and water increased in Georgia, but the government decided to subsidize public spending on utilities.

During the pandemic, the Georgian authorities decided to subsidize the cost of utilities to citizens whose use of electricity does not exceed 200 kW/h and no more than 200 cubic meters of natural gas.

This decision affected the level of inflation, which was below the target level for two months, but the program was partially completed in March, which caused an increase in inflation.

In March, compared to February, prices decreased for clothing and shoes (1.9%), and increased, in addition to utilities, for healthcare (3.6%), hotels and restaurants (2.6%) and transport (2.6%). In March, food prices rose by 1.5%.

sputnik-georgia.ru





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