The Governor of the National Bank of Georgia, Koba Gvenetadze, said the financial institution expected domestic inflation to begin to decline from February and approach the target level in the second half of 2023.
“If inflation exceeds the expectations, the developments will lead to a wage-price spiral - a prolonged loop in which inflation leads to higher wage growth, fueling even higher inflation, but we expect inflation to remain at the current level to begin to decrease noticeably from February.
Positive trends observed in international commodity markets can serve as preconditions and driving factors for the future decrease of inflation and they will gradually be transmitted to the local market", - Koba Gvenetadze stated.
To be reminded, in September, Georgia’s consumer price index increased by 0.8% compared to the previous month, while the annual inflation rate amounted to 11.5%, according to the national statistics office.
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One US dollar trades at GEL 2.7160
11/07/2025
