Georgian Prime Minister Nika Gilauri hailed decrease in annual inflation to 8.5% in July and said that according to his forecasts, inflationary pressure would further go down in the following months.

“At the beginning of this year inflation was one of the main macroeconomic problems,” he said at the government session on August 4. “However, as we were predicting, prices fell on international markets and respectively, the same happened in Georgia too. Actually prices have decreased, mainly on agricultural products, as a result of which inflation fell down to one-digit figure.”

Georgian state statistics agency said on August 3 that Georgia’s annual inflation fell from 10% in June to 8.5% in July,