The annual inflation rate in Georgia eased to a 25-month low of 1.5 percent in December of 2018 from 1.9 percent in the previous month. Prices slowed for housing & utilities (3.1 percent from 3.6 percent in November); transport (1.7 percent from 3.8 percent); health (2.9 percent from 5.5 percent); furniture & household equipment (0.5 percent from 1.4 percent); and recreation & culture (1.1 percent from 2.5 percent). On the other hand, cost rose faster for food & non-alcoholic beverages (1.7 percent from 0.8 percent); restaurant & hotels (1.8 percent from 1.4 percent); education (1.9 percent from 1.7 percent); miscellaneous goods & services (0.6 percent from 0.4 percent); and alcoholic beverages & tobacco (4.9 percent from 4.6 percent). On a monthly basis, consumer prices went up 0.5 percent, easing from a 0.7 percent rise in November. Inflation Rate in Georgia averaged 7.27 percent from 1996 until 2018, 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 2.70 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 3.10 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.