The annual inflation rate in Georgia fell to 6.1 percent in June of 2020 from 6.5 percent in the previous month. It was the lowest rate since March, due to a plunge in transport prices (-8.6 percent vs -4.6 percent in May). In addition, inflation slowed mostly for food & non-alcoholic beverages (13.6 percent vs 14.7 percent) and housing & utilities (3.2 percent vs 4.4 percent). On a monthly basis, consumer prices were down 1.4 percent, after increasing 0.2 percent in the previous month.
Inflation Rate in Georgia averaged 7.15 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 July of 2020.
Inflation Rate in Georgia is expected to be 5.70 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 3.00 in 12 months time. In the long-term, the Georgia Inflation Rate is projected to trend around 3.10 percent in 2021 and 2.90 percent in 2022, according to our econometric models.