Galt & Taggart, a Georgia-based investment banking and investment management services, has forecast a 5.2% average annual inflation in Georgia this year.
In the estimation, published in its Weekly Market Watch on January 9, the company also said the figure was expected to decrease to 3% until the end of the year.
“Along with decelerating inflation, we expect the monetary policy rate to be cut to 9% until the end of the year from the current level of 11%,” it noted.
In the latest domestic economic numbers released by the National Statistics Office of Georgia last week, the consumer price index decreased by 0.3% in December 2022 compared to the previous month, while the annual inflation rate was observed at 9.8%.
The Office said prices had increased by 6.9% with the annual core inflation taken into account, while the number without tobacco figures amounted to 6.8%.
Domestic prices increased in food and non-alcoholic beverages (+16.8% YoY), housing, water, electricity, gas and other types of fuel (+15.8%), as well as alcoholic beverages and tobacco (+9.3%) and transport (+5.5%). (Agenda/Business World Magazine)