Georgia's inflation at highest level in 2 years

Georgia's annual inflation rose to 2.4 percent in December, the highest level since October 2011, the state statistics office said Friday. Despite an increase of 0.6 percentage point from the previous month, the figure was still well below the target rate of 6 percent set by the Bank of Georgia, the central bank, for the whole year of 2013, said the office. After soaring to a 10-year high of 14.3 percent in May 2011, the inflation rate plummeted down to actual deflation in early 2012. Between February 2012 and September 2013, the South Caucasus country witnessed a series of deflation rates except for the three months -- July and October in 2012 and June in 2013.