Real GDP grew 2.1% y/y in April 2017
Georgia’s economy expanded 2.1% y/y in April 2017, after growing 5.3% y/y in previous month, according to GeoStat’s rapid estimates. Overall, in 4M17 GDP growth was 4.2% y/y. Monthly rapid estimates are based on VAT turnover, fiscal and monetary statistics.
Inflation was 6.6% y/y and flat m/m in May 2017
The annual CPI inflation was 6.6% in May 2017 after 6.1% inflation in previous month, according to GeoStat. Core inflation was 3.7% in May, up from 3.3% in previous month. Overall price changes were driven by price increases in food and non-alcoholic beverages (+8.3% y/y, +2.53ppts), transport (+17.5% y/y, +2.13ppts), and alcoholic beverages and tobacco (+15.0% y/y, +0.97ppts) categories. On a monthly basis, prices were flat in May 2017. Price increase in transport (+0.5% m/m, +0.07ppts) and price increase in miscellaneous goods and services (+1.8% m/m, +0.08ppts) categories were the major drivers of monthly Inflation dynamics.
