Economy
Posted:
3 years ago
Annual Inflation in April Marked 6.9%
The 22.7% growth in potato prices has essentially affected the annual inflation rate in April. The product’s effect on the annual inflation made up 0.3%. Amid the plunge in global oil prices, petrol cheapened by 10.7%. As a result, the annual inflation shrank by 0.4%.
Food products inflation remains high and the rate in April made up 16.7% (5% effect in total inflation). Major effect came from rising prices on Imeretian Cheese, potato, beef, apple and sugar. Total effect on these products amounted to 2.1%.
Furthermore, 13% growth was recorded on cigarettes (0.4% effect on the annual inflation). The major effect on the inflation rate reduction came from cheapening prices on cabbage (69.8%) and petrol (6.1%).
The base inflation in April made up 4.1%, excluding food products, energy carriers and tobacco.