“We expect a further decrease in the inflation rate and its low level during the year. From this point of view, the process also goes in the right direction,” Mikheil Dundua said.

In July 2023, the Consumer Price Index decreased by 0.04% compared to the previous month, while the annual inflation rate amounted to 0.3%. Concerning the annual core inflation, the prices increased by 3.2 per cent, while the annual core inflation without tobacco amounted to 3.1%, the National Statistics Service (GeoStat) reported.