Inflation in Georgia is growing – new statistics
Annual inflation (April 2022 to April 2021) in Georgia was 12.8%, with a target of 3%, according to the National Statistics Service "Sakstat" (Gruzstat).
During the year, prices increased for transport (22.4%), hotels and restaurants (12.5%) and healthcare (2.8%). In April, food prices increased by 21.3% over the year.
In April 2022, compared to March 2022, the inflation rate was 1.8%. In March, monthly inflation was 2.5%.
The National Bank's forecast for inflation
According to the forecast of the head of the National Bank of Georgia Koba Gvenetadze, economic growth in 2022 is expected at the level of 3-4%, and inflation – at the level of 9%.
"According to my forecast, real economic growth will be between 3 and 4%, but uncertainty remains high. The factors that leave a mark on the world economy are inflationary processes. Unfortunately, the conflict gave them a new impetus," Gvenetadze told reporters.
According to him, the indicator of this is the new data of the Food and Agriculture Organization of the United Nations (FAO).
The world food price index in March rose by 12.6% compared to February to 159.3 points, reaching a historic record level. Moreover, the most significant growth was demonstrated by the prices of vegetable oils and grain.
"The food price index has reached a new record level, oil prices have risen. This is a challenge, as it will be necessary to maintain a tight monetary policy. There is also uncertainty here. According to the forecast that we have, inflation this year will be about 9%," Gvenetadze said.
According to the National Bank, the increase in inflation risks against the background of events in Ukraine has slowed down the projected rate of decline in inflation in the world.
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Inflation in Georgia is growing – new statistics
Annual inflation (April 2022 to April 2021) in Georgia was 12.8%, with a target of 3%, according to the National Statistics Service "Sakstat" (Gruzstat).
During the year, prices increased for transport (22.4%), hotels and restaurants (12.5%) and healthcare (2.8%). In April, food prices increased by 21.3% over the year.
In April 2022, compared to March 2022, the inflation rate was 1.8%. In March, monthly inflation was 2.5%.
The National Bank's forecast for inflation
According to the forecast of the head of the National Bank of Georgia Koba Gvenetadze, economic growth in 2022 is expected at the level of 3-4%, and inflation – at the level of 9%.
"According to my forecast, real economic growth will be between 3 and 4%, but uncertainty remains high. The factors that leave a mark on the world economy are inflationary processes. Unfortunately, the conflict gave them a new impetus," Gvenetadze told reporters.
According to him, the indicator of this is the new data of the Food and Agriculture Organization of the United Nations (FAO).
The world food price index in March rose by 12.6% compared to February to 159.3 points, reaching a historic record level. Moreover, the most significant growth was demonstrated by the prices of vegetable oils and grain.
"The food price index has reached a new record level, oil prices have risen. This is a challenge, as it will be necessary to maintain a tight monetary policy. There is also uncertainty here. According to the forecast that we have, inflation this year will be about 9%," Gvenetadze said.
According to the National Bank, the increase in inflation risks against the background of events in Ukraine has slowed down the projected rate of decline in inflation in the world.
sputnik-georgia.ru
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