Consumer prices in Georgia were up 0.7 percent in August from a month earlier after rising 1.3 percent in July and in comparison with 0.02 percent deflation in August 2020, the State Statistics Office said.

Annual inflation in August was a record 12.8 percent, up from 11.9 percent in July this year and up from 4.8 percent in August 2020.

Georgia’s National Bank targets annual inflation at 3 percent, but says that the country would exceed the target this year.