Annual Inflation Hits 13.9% in December

Georgia’s annual inflation rate in December spiked at 13.9%, the National Statistics Office (Geostat) reported today. On a monthly basis, meanwhile, consumer prices increased by 0.3 percent. The annual inflation rate was primarily driven by price changes in food and non-alcoholic beverages (15.6% increase), transport (17.3% increase),), housing, water, electricity, gas and other fuels (24.9% increase). Georgia's annual inflation rate in months in the second half of 2021 were among the highest in a decade. The monthly inflation rate was primarily driven by price changes in food and non-alcoholic beverages (0.8% increase), restaurants and hotels (0.9% increase), and clothing and footwear (1.4% decrease). Central Bank Raises Key Rate to 10.5%, 13-year Highest Annual Inflation Hits 12.5% in November Georgia’s Foreign Trade Up 25.1% in January-November 2021