"Inflation came close to the target rate and amounted to 2.7% in April" - said Archil Mestvirishvili, acting governor of the National Bank of Georgia while presenting the 2022 Report to the Parliament.
"In December, the annual inflation level decreased to 9.8%. From the second half of the year, the trend of stabilization of commodity prices and reduction of transportation costs was evident on the world market. At the same time, imported inflation was moderated by the strengthened exchange rate as a result of strong foreign demand and improved current account balance. The downward trend of inflation was facilitated by the NBG's tightened monetary policy rate, fiscal consolidation and the implementation of additional macroprudential instruments. Against the background of these trends, this year inflation approached the target rate and reached 2.7% in April, while globally inflation is still at a high level," said Archil Mestvirishvili.
