Annual inflation in Georgia amounted to 13.9%

Inflation in Georgia

According to new data from the National Statistical Office of Georgia (Geostat), the inflation rate in the country has amounted to 1.1% compared to December last year, while the annual inflation rate has reached 13.9%.

The main factor in the growth of annual inflation is the rise in food prices. According to Geostat, in January 2022, prices rose the most for cabbage (up by 213% over the year) and utilities (increased from 57% to 78%).

At the same time, some goods and services fell in price. In particular, air transportation and tourism fees (by 34 and 15.7%) and some items of clothing.

The government expects inflation to decrease in February, Deputy Finance Minister Mikhail Dundua said.

“The high level of inflation is due to global factors, which has been repeatedly noted by the International Monetary Fund. This is a global trend, and Georgia, unfortunately, cannot be an exception. It can be said that in this case, it was an exceptional period, but from this month we expect stabilization and a decrease in the inflation rate”, Dundua said.