The annual inflation rate in Georgia rose 4.9 percent in August 2019 from 4.6 percent in the previous month. It was the highest inflation rate since December 2017, as cost advanced faster for food and non-alcoholic beverages (8.0 percent vs 7.9 percent in July); transport (4.4 percent vs 3.9 percent); health (3.9 percent vs 3.5 percent); recreation & culture (6.2 percent vs 5.6 percent); alcoholic beverages & tobacco (13.8 percent vs 13.7 percent) and miscellaneous goods & services (4.3 percent vs 1.9 percent); restaurants & hotels (3.6 percent vs 3.4 percent). On the other hand, housing & utilities prices slowed (1.6 percent vs 1.7 percent) while inflation was steady for furniture & household equipment (at 1.5 percent). On a monthly basis, consumer prices increased 0.8 percent, from a flat reading in July. 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 5.00 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 3.50 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.