Macroeconomic Forecast Georgia

Georgian headline consumer price inflation continued to accelerate in March, climbing to 13.9% y-o-y from 13.7% and 12.3% in February and January respectively. This marks the highest inflation rate since July 2006, and highlights the extent to which higher global commodity prices are weighing on consumers. For now, we hold to our forecast of 9.4% average inflation in 2011 and see the headline rate slowing to 7.5% by year-end, as global commodity prices are set to moderate.

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