TBILISI, September 3. /TASS/. Inflation in Georgia in August 2024 amounted to 1% compared to the previous year, over the month the price level decreased by 0.1%, the National Statistics Service reported.

According to the report, prices increased in August year-on-year for transport (7.4%), hotels, cafes and restaurants (7.3%), alcohol and tobacco (4.5%), education (3.8%). At the same time, prices for communications and utilities fell by 12.7%, for clothing and footwear - by 3.8%, for household gas, water, and electricity - by 2.6%.

The National Bank of Georgia has repeatedly forecast that this year the inflation rate will remain around the target of 3%, so since the beginning of the year it has gradually lowered the refinancing rate. If in January the key rate was 9.5%, now its volume reaches 8% per annum.