The annual inflation rate in Georgia jumped to 13.3 percent in May of 2022 from 12.8 percent in the previous month, which was the highest inflation rate since February, mainly boosted by faster rises in prices of housing and utilities (16.1 percent vs. 9.4 percent), food and non-alcoholic beverages (22 percent vs. 21.3 percent). At the same time, prices increased more for both miscellaneous goods and services ( percent 6.6 vs. 6.3 percent) and restaurants and hotels ( 12.6 percent vs. 12.5 percent). Meanwhile, price growth rates slowed down for healthcare (2 percent vs. 2.8 percent), furnishings ( 9.2 percent vs. 10.1 percent), transport (20 percent vs. 22.4 percent), and recreation ( 2.3 percent vs. 3.4 percent). On the other hand, clothing and footwear inflation slightly declined (at 0.3 percent). On a monthly basis, consumer prices increased by 1.1 percent, going down from a 1.8 percent gain in the previous month. source: National Bank of Georgia
Inflation Rate in Georgia averaged 7.26 percent from 1996 until 2022, 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 June of 2022.
Inflation Rate in Georgia is expected to be 14.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Georgia Inflation Rate is projected to trend around 6.00 percent in 2023 and 4.50 percent in 2024, according to our econometric models.