The annual inflation rate in Georgia increased to 2.8 percent in January of 2021 from 2.4 percent in the previous month. Main upward pressure came from: food and non-alcoholic beverages (6.4 percent vs 6.8 percent in December 2020), health (9.7 percent vs 9.6 percent), restaurants & hotels (2.0 percent vs 3.5 percent) and recreation & culture (1.4 percent vs -2.8 percent). Downward pressure came from housing & utilities (-20.5 percent vs -21.7 percent) and transport (-0.9 percent vs -2.3 percent). On a monthly basis, consumer prices rose by 1.1 percent, after declining 1.0 percent in the previous month. source: National Bank of Georgia
Inflation Rate in Georgia averaged 7.07 percent from 1996 until 2021, 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 February of 2021.
Inflation Rate in Georgia is expected to be 2.80 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 3.50 in 12 months time. In the long-term, the Georgia Inflation Rate is projected to trend around 3.50 percent in 2022, according to our econometric models.