Page 20 - GEORptSep22

Annual inflation in Georgia in June was 12.8%
the GEL rate cuts outlook, foreseeing the policy rate by the end of the year declining from its recent 11% to around 10%,” the report read.
The GEL assessment was maintained unchanged from a week ago. TBC thus remained “slightly, but still bullish,” on the exchange rate. In recent days the USD has strengthened against regional currencies.
Georgian annual inflation in June was 12.8%, according to the data of the National Statistical Service of Georgia, which was published on July 4. Compared to the previous month, consumer prices rose by 0.2%.
Annual inflation was mainly affected by price changes in the following groups: food and non-alcoholic beverages (growth by 21.8%); transport (growth by 19.4%); housing, water, electricity, and gas (growth by 13%).
In the food and non-alcoholic beverages group, prices increased as follows: bread and bakery products (35.0%), vegetables and bagels (33.4%), fruits and grapes (31.8%), mineral and spring water, soft drinks and natural juices (24.0%), milk, cheese and eggs (19.5%), coffee, tea and cocoa (18.0%), fish (17.9%), sugar, jams and other sweets (16 .0%), oils and fats (14.9%), meat and meat products (11.3%);
The formation of the monthly inflation index was mainly influenced by price changes for the following groups: hotels, cafes and restaurants: (growth by 2.3%); food and non-alcoholic beverages (growth by 0.1%); alcoholic beverages and tobacco (growth by 0.7%).
In February, Georgia’s inflation rate was 13.7%.
4.2.2 PPI dynamic
Georgia PPI for industrial products up 19.3% in March
Annual PPI for industrial goods was up 14.2% in May 2022, easing from a 15.4% growth in the previous month, according to Geostat.
Prices rose in manufacturing (+19.6% y/y) and water supply, sewerage, waste management and remediation services (+5.3% y/y), while price decline was seen in mining and quarrying (-9.3% y/y) and electricity, gas, steam and air conditioning (-7.5% y/y) continued to decrease.
20 GEORGIA Country Report September 2022 www.intellinews.com