News

Georgia’s PM confident despite price deflation

by | May 31, 2012

TBILISI, DFWatch – Georgia’s Prime Minister Nika Gilauri claims that inflation indicator in May is positive and hopes that it will have positive influence on the country’s economy.

Gilauri said this at a government session on Wednesday.

He noted that prices have decreased compared to April, and compared to May 2011.

“Deflation was 3.3 percent [compared] to May last year. You remember well that May last year was a month with the highest inflation rates, inflation was higher than 14 percent. Accordingly, this has results this year and the level of prices has decreased compared to May last year.”

The prime minister says that the high inflation rate last year was caused by a price change in the international market.

“Prices for food decreased in the international market today and this is reflected in the domestic macroeconomic parameters.”

 



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