National Bank: Annual inflation in March amounted to 7.2 percent, prices increased by 4.2 percent compared to February

In March 2021, annual inflation stood at 7.2 percent, while prices rose by 4.2 percent compared to February. The data was published by the National Bank of Georgia.

According to the National Bank, the reason for the rise in inflation is the extraordinary situation created by the coronavirus, due to which several factors on the supply side simultaneously affected inflation in terms of growth. In addition, the NBG notes that the removal of the budget subsidy on most utility bills had the biggest impact on the increase in inflation in March, compared to the previous month.