The annual inflation rate in Georgia soared to 7.2 percent in March of 2021 from 3.6 percent in the previous month. It was the highest inflation rate since August of 2011, pushed up by prices of housing & utilities (7.6 percent vs -21.2 percent in February); furnishings (12 percent vs 12.3 percent); health (13.6 percent vs 9.8 percent); miscellaneous goods & services (9 percent vs 9.4 percent); alcoholic beverages & tobacco (8.9 percent vs 8.1 percent) and food & non-alcoholic beverages (5.7 percent vs 6.2 percent). On a monthly basis, consumer prices inched up 4.2 percent, the biggest increase since at least January of 2004, mainly on account of prices of housing & utilities (36.1 percent vs -0.4 percent). source: National Bank of Georgia
Inflation Rate in Georgia averaged 7.06 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 April of 2021.
Inflation Rate in Georgia is expected to be 4.30 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 3.60 in 12 months time. In the long-term, the Georgia Inflation Rate is projected to trend around 3.30 percent in 2022 and 3.20 percent in 2023, according to our econometric models.