The Georgian National Bank has left the rate of monetary policy at 8%, Business Georgia reports.
The decision comes from unchanging prices for consumer products in February. Georgian annual inflation reached 13.9%. Prices for fuel and vegetables slightly stopped rising in March by dropping prices for cheese and vegetables.
The high inflation rate is caused by high fuel and food prices. The base inflation rate is 2.2%. Inflation in services was at 2.1%.
The National Bank says that the current inflation rate will remain at the same point for several months. The Georgian government made efforts in fiscal consolidation by reducing influence of reserve finances equal to 100 million lari ($1 — 1.66 lari).
The next session of the bank“s committee for monetary policy will be held on May 25, 2011.
