Inflation in Georgia
Georgia - InflationThe economy had a strong start to 2022, with economic activity rising by over 14% year on year in Q1. This reading was likely supported by the easing impact of the pandemic, surging tourist arrivals and buoyant credit growth. That said, the fallout from the war in Ukraine hit activity towards the end of the quarter and moving into Q2, as Georgia has close economic ties to both Russia and Ukraine. Economic activity slowed notably in April, with declines recorded in construction, manufacturing and trade, as well as in professional, scientific and technical activities. Moreover, a spike in commodity prices in the wake of the war kept inflation in double digits during April. This forced the Central Bank to keep interest rates elevated, which is likely to negatively affect consumer spending.
Georgia - Inflation Data
|Inflation Rate (CPI, annual variation in %)||4.0||2.1||6.0||2.6||4.9|
5 years of economic forecasts for more than 30 economic indicators.
Georgia Inflation Chart
Source: National Bank of Georgia.
|Exchange Rate||2.86||0.0 %||Jan 01|
|Stock Market||0.1||0.55 %||Jan 07|
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