The annual inflation rate in Georgia rose to a four-month high of 2.3 percent in February of 2019 from 2.2 percent in the previous month. Prices increased faster for: transport (2.0 pct vs 1.7 pct in January); housing & utilities (1.6 pct from 1.3 pct); miscellaneous goods & services (0.8 pct from 0.3 pct); education (2.3 pct from 2.1 pct), and alcoholic beverages & tobacco (16.1 pct from 10.1 pct). Meantime, inflation slowed for both food & non-alcoholic beverages (2.9 pct from 3.2 pct in January) and restaurant & hotels (1.4 pct from 3.5 pct). On the other hand, inflation was steady for health (at 3.4 pct). By contrast, prices fell for furniture & household equipment (-0.1 pct from 0.4 pct); recreation & culture (-0.9 pct from 1.0 pct). On a monthly basis, consumer prices advanced 0.3 percent, easing from a 1.3 percent rise in January. Inflation Rate in Georgia averaged 7.23 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 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.