Annual inflation rate in Georgia decreased to 4.3% in June 2019 from 4.7% in the previous month, as prices slowed mostly for food & non-alcoholic beverages (6.5% vs 7.9% in May); health (2.9% vs 3%) and alcoholic beverages & tobacco (20.1% vs 21.1%). Meantime, inflation was steady for transport (3.2%) and housing & utilities (at 1.8%). In contrast, costs rebounded for furnishings (0.9% vs -0.2%) and rose faster for recreation & culture (5% vs 4.6%); restaurants & hotels (2.5% vs 1.3%) and miscellaneous goods & services (0.8% vs 0.6%). On a monthly basis, consumer prices fell 1%, after increasing 0.5% in the prior month. Inflation Rate in Georgia averaged 7.19 percent from 1996 until 2019, reaching an all time high of 59.31 percent in April of 1996 and a record low of -3.30 percent in May of 2012.
Inflation Rate in Georgia is expected to be 2.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Inflation Rate in Georgia to stand at 2.90 in 12 months time. In the long-term, the Georgia Inflation Rate is projected to trend around 2.90 percent in 2020, according to our econometric models.