Inflation will continue
By Messenger staff
Tuesday, November 25In the draft 2009 budget the Government has applied the new exchange rate of the GEL against the USD. 1 USD is now worth 1.65 GEL, and inflation is therefore now estimated at 7%.
Independent analysts however think that this inflation indicator is not realistic. Soso Archuadze is skeptical about halting inflation. The sudden jump of the USD rate caused an increase in consumer prices. The population suspects that the GEL could fall further and so vendors have increased prices to offset risk.
Archuadze is sure that, concerning inflation, the Department of Statistics does not provide true and reliable information.