As of 12 months in 2021, inflation
is expected to stand at 14%.
This is the forecast made by the
international and non-governmental organizations what the government and the National Bank agree
with that means that prices will definitely keep surging.
Sakstat data also confirms astronomical rise in prices, according
to which, due to high inflation in the current year vegetables have risen in price by 42%,
sunflower oil by 31%, bread by 19%.
In particular, compared with
October 2020, inflation stood at 12.8% that is the anti- record level in the
last 10 years.
In October 2021, prices of food and non-alcoholic beverages rose by
18.4%, including vegetables - by 43%, oils by 31.6%, bread and bakery products
by 19.4%, milk, cheese, and eggs - by 18 , 2%, sugar and sweets by 18%, fish by
16%, mineral waters and soft drinks - by 13%, meat and meat products by 11.2%,
fruits by 9.3%, tea, coffee, cocoa by 6, 4%.
Apart from that, utility
tariffs for electricity, gas and other energy resources have increased by 13.9%
compared to October 2020.
Gasoline rose in price by 43%,
diesel fuel rose by 35% mainly due to
the increase in fuel prices on the global markets. Fuel price hikes automatically
increase total transport costs and as a result, an increase in prices for all goods, primarily
the authorities also acknowledge
the problem given its scale. The head of the Finance and Budget Committee of
the Parliament Irakli Kovzanadze names the
central bank’s ineffective actions as one of the factors contributing to
inflation and prices hikes.
“Prices for some products have increased by
100%, and each government department is responsible for the current situation. In particular, the National Bank,
which is responsible for curbing inflation. Since December last year, the Committee
has warned of price hikes, and the
forecasts have come true laying a heavy
burden on both the population and the country’s economy,” he concludes.