Annual inflation (December 2021 by December 2020) in Georgia amounted to 13.9% at a target indicator of 3%, the National Statistics Service reported on the eve.
This indicator is a record for the last ten years. In 2020, the inflation rate amounted to 5.2%.
For the year in Georgia, prices for utilities (43.5%), transport (17.3%), hotels and restaurants (14%) and healthcare (7.9%) have grown in Georgia. Food prices rose by 15.6%. Vegetable oil has risen in price – 24.5%, vegetables – 20.7%, bread and bread products – 20.2%, sugar – 19.8%, milk and eggs – 15.3%.
In November, the world prices for basic food increased by 1.2% (primarily due to grain, sugar and dairy products) and reached a new historical maximum since July 2011, the Press release of the Food and Agricultural Organization of the UN ( FAO). “In this regard, there is a sharp rise in food prices in US dollars and recently even faster increase in oil prices in world markets, which is accompanied by a high growth rate of international transportation costs,” the Georgian National Bank says.
According to the National Bank, until the end of the year, inflation will remain high. “In December of this year and January-February next year, annual inflation will increase even more due to the effect of the growth of utility subsidies,” the regulator statements say.