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3Q17). Meanwhile, production increased faster for both mining and quarrying (29.1% in 4Q17 from 10.2 in 3Q) and manufacturing (24.8% from 24.3%).
Industrial production y/y in Georgia averaged 13.2% from 2000 to 2017.
4.2 Inflation
4.2.1 CPI dynamics
Georgia’s consumer price inflation levels off at 2.5% y/y in April
Georgia's annual consumer price inflation (CPI) grew by 2.5% y/y in April, but fell slightly by 0.2% on monthly terms. The numbers are the lowest recorded monthly CPI levels seen in Georgia since December 2016.
Just like its major trade partners Turkey and Azerbaijan, Georgia has struggled with monetary depreciation in recent years. The country's central bank sought to defend its gross international reserves and allowed the currency to depreciate by as much as 40% in 2015-2016, attracting the government's criticism.
16 GEORGIA Country Report June 2018 www.intellinews.com
