Georgia's economy slipped into deflation in October with consumer prices falling 0.2% y/y, the county's statistics agency Geostat reported on November 3. The decline followed a 0.1% y/y hike the month before,
Inflation was a challenge for Georgian authorities in 2015, when a 23% depreciation of the lari pushed consumer prices high up. However, the currency has since stabilised and began appreciating in March, prompting the central bank to ease monetary policy in several interventions since April in order to slow down the currency's appreciation.
The main contributor to October's deflation was a 6.7% y/y reduction in transport prices, a 3.9% drop in household equipment prices and a 5.2% one in the price of clothing and footwear. Meanwhile, the price of alcoholic beverages and tobacco increased by 10.9% on average.
On a monthly basis, prices were up by 0.5% in October on the back of a 0.7% increase in food prices and a 2% one in the price of healthcare services and products.
Uzbekistan's central bank on April 25 kept its benchmark interest rate on hold at 14%, pointing to risks that inflation could once more accelerate. Planned hikes of state-regulated prices for ... more
Ukraine's leading private energy company, DTEK, has sounded the alarm, indicating an urgent need for $350mn to recuperate lost capacity resulting from Russia's relentless assaults on thermal power ... more
The International Monetary Fund (IMF) projects real GDP growth of 3.1% this year and 5.6% in 2025 for Kazakhstan in its newly released ... more