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Tag Archives: inflation

GEL Depreciates, Prices Drop: October Records Deflation

GEL currency Georgian Lari

In October 2016 the inflation indicator made up 0.5% as compared to the previous month and 0.2% as compared to October 2015. Consumer prices index has increased by 17.1% compared to averaged index in 2010. As noted, in October 2016 the common level of prices rose by 0.5% compared to …

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September Records Inflation Slowdown

September Records Inflation Slowdown

In September 2016 the monthly inflation rate amounted to 0.3 percent in Georgia. Compared to the same month of previous year the Consumer Price Index change (annual inflation rate) posted a 0.1 percent increase. Compared to 2010 average the index rose 16.5 percent. The monthly inflation rate was mainly influenced …

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National Bank Forecasts Low Inflation Rate

National Bank Forecasts Low Inflation Rate

The national bank of Georgia forecasts low inflation rate in the next months. “In August consumer price inflation rate declined to 0.9% and this tendency meets the existing prognosis. Base effect completion makes important influence on inflation rate reduction. The weak joint demand  also promotes inflation slowdown. Under the current …

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Annual Inflation Falls in Georgia

Annual Inflation Falls in Georgia

In August 2016 the monthly inflation rate amounted to 0.4 percent in Georgia. Compared to the same month of the previous year, the Consumer Price Index change (annual inflation rate) posted a 0.9 percent increase. Compared to the 2010 average, the index rose by 16.2 percent. The monthly inflation rate …

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July Sees 1.5% Inflation Rate in Georgia: Economist

In July 2016 the inflation rate in Georgia rose by 0.2% compared to June and by 1.5% compared to July 2015 (annual inflation rate). The consumer price index increased by 15.7% compared to the averaged indicator of 2010. As compared to June 2015, the July inflation rate formation was influenced …

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National Bank Statistics Proves Downfall in Prices

Imported inflation in June declined by 5% compared to May 2016 as a result of contraction in fuel prices, the monthly report by the National Bank of Georgia (NBG) reads. It should be noted that, because of the exchange rate devaluation, prices of family equipment or other imported goods extremely …

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NBG Reduces Its Policy Rate By 25 Basis Points To 6.75%

NBG Reduces Its Policy Rate By 25 Basis Points To 6.75%

The Monetary Policy Committee (MPC) of the National Bank of Georgia (NBG) met on July 27, 2016 and decided to reduce the refinancing rate by 25 basis points to 6.75 percent. The monetary policy decision is based on the macroeconomic forecast, according to which the phasing out of tight monetary policy must …

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National Bank Forecasts Inflation Slowdown in Coming Quarters

National Bank Forecasts Inflation Slowdown in Coming Quarters

The Monetary Policy Committee (MPC) of the National Bank of Georgia (NBG) met on June 15, 2016 and decided to reduce the refinancing rate by 50 basis points to 7.0 percent. The monetary policy decision is based on the macroeconomic forecast, according to which the tightening of the monetary policy …

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Inflation Drops to 0.1 Percent in Georgia

Market in Georgia

In February 2016 the monthly inflation rate in Georgia amounted to 0.1 percent, Geostat reported. The following table shows percentage changes in prices for the commodity groups of the consumer basket as well as the relevant contributions to the overall inflation rate. In February 2016 prices increased for food, beverages, …

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Koba Gvenetadze at Budget and Finance Committee Meeting

Koba Gvenetadze

By the decision of the Georgian Presiden, Koba Gvenetadze is presented as a candidate member of the National Bank Board. At Budget and Finance Committee Meeting, he expressed his own visions on National Bank‘s main activities. According to him, it is rather important government to increase the reliance on domestic currency. In …

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Inflation Pace Slowed Down in December

Inflation pace declined in December. However, deflation of 0,6% has been fixed m-o-m, while inflation level has amounted to 4,9% y-o-y, which is the lowest index since July. Price reduction of 3,6% has been fixed in transport groups though the last month, which has been reflected by -0,40 percentage point …

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