The annual inflation rate in Georgia was unchanged at 7.0 percent in December of 2019, the same pace as in the previous month. It remained the highest inflation rate since June 2016, as cost advanced faster for housing & utilities (3.7 percent vs 2.7 percent in November); furniture & household equipment (3.2 percent vs 2.1 percent); miscellaneous goods & services (5.8 percent vs 5.3 percent); restaurants & hotels (7.9 percent vs 7.4 percent), health (3.5 percent vs 3.3 percent), and alcoholic beverages & tobacco (15.6 percent vs 15.4 percent). Meanwhile, cost went up softer for: food and non-alcoholic beverages (12.3 percent vs 13.4 percent); transport (2.9 percent vs 3.1 percent), and recreation & culture (6.9 percent vs 7.0 percent). On a monthly basis, consumer prices went up 0.4 percent, following a 0.9 percent rise in November. Inflation Rate in Georgia averaged 7.17 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 4.00 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 3.10 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.