“We forecast that the average annual inflation will be 8.3% this year," Lasha Kavtaradze, economist at Galt & Taggart declares.
“The price increase was 9.9% in June and the contribution of food and non-alcoholic beverages was significant. Bread products also fall into this category. Of course, inflation will be affected by rising prices for bread products, although the pressure of other categories may be offset, but this does not mean that there will be a significant downward trend in inflation for the coming months.
We think, that Georgia will have double-digit inflation late in December. Due to the fact that we had a low base, inflation was 2.4% last year and it was caused by a subsidy for utility bills. We consider that this low base will be effective in December," - said Kavtaradze.
Target inflation is set at 3.3% for 2021.
