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National Bank Statistics Proves Downfall in Prices

Imported inflation in June declined by 5% compared to May 2016 as a result of contraction in fuel prices, the monthly report by the National Bank of Georgia (NBG) reads.

It should be noted that, because of the exchange rate devaluation, prices of family equipment or other imported goods extremely increased in the last year. This year the imported inflation rate decreased after completion of this effect.

At the same time, the domestic commodity inflation was 3.1%. Contrary to the past months, annualized price contraction was recorded on commercial goods too, where price growth pace made up -0.5. At the same time, in other sectors price growth pace made up 3.2%.