Annual Inflation in July Hits 10-year High at 11.9%

Georgia’s annual inflation rate in July spiked at 11.9%, at a ten-year high, while on a monthly bases consumer prices increased by 1.3%, the National Statistics Office (Geostat) reported today. The annual inflation rate was primarily driven by price changes in transport (22.5% increase), food and non-alcoholic beverages (14.1% increase), furnishings, household equipment and maintenance (11.5% increase) and health (11.4% increase). Meanwhile, the monthly inflation rate was primarily driven by price changes in food and non-alcoholic beverages (3.2% increase), transport (1.4% increase), as well as restaurants and hotels, and furnishings, household equipment and maintenance, with 1.2% increase for each. Annual Inflation Spikes at 9.9% in June Georgian Central Bank Keeps Key Rate at 9.5% Georgia’s GDP Growth 18.7% in June