The annual inflation rate in Georgia came in at 3.8 percent in October of 2020, unchanged from the previous month. It was the lowest inflation rate since March of 2019, amid a slowdown in prices of food and non-alcoholic beverages (5.5 percent vs 6.3 percent in September) and restaurants & hotels (5.2 percent vs 5.7 percent), while housing & utilities inflation was steady (at 1.6 percent). In addition, cost continued to fall mostly for transport (-6 percent vs -7 percent) and recreation & culture (-2.9 percent vs -2.8 percent). On a monthly basis, consumer prices were up 0.8 percent, after a 0.7 percent growth in the previous month. source: National Bank of Georgia
Inflation Rate in Georgia averaged 7.12 percent from 1996 until 2020, 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. This page provides the latest reported value for - Georgia Inflation Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Georgia Inflation Rate - data, historical chart, forecasts and calendar of releases - was last updated on December of 2020.
Inflation Rate in Georgia is expected to be 3.50 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 6.10 in 12 months time. In the long-term, the Georgia Inflation Rate is projected to trend around 5.50 percent in 2021, according to our econometric models.