Inflation Georgia 2023
Average inflation: 16.9%
Current Inflation
Inflation is very high at 16.9%, far above the ECB target.
Peak and Trough
The highest inflation was in September at 18.5%. The lowest inflation was in January at 13.1%.
- Highest month
- September: 18.5%
- Lowest month
- January: 13.1%
- Difference
- 5.4 percentage points
- Months with data
- 12 of 12
Category Insights
The highest price increase was in Energy with an average of 6.7%. The lowest price increase was in Food with an average of 3.9%.
- Highest increase
- Energy: 6.7%
- Lowest increase
- Food: 3.9%
Historical Context
Current inflation is 7.1% higher than the 5-year average of 9.8%. This approaches the highest level since records began (16.9% in 2023).
- 5-year average
- 9.8%
- 10-year average
- 8.3%
- All-time high (2023)
- 16.9%
- All-time low (2006)
- 2.1%
Trend
Inflation shows an upward trend. Compared to 2022, inflation has risen by +5.4 percentage point.
- Change vs. previous year
- +5.4 percentage points
- Largest monthly swing
- March: +6.6 percentage points
ECB Target
Inflation is 14.9% above the ECB target of 2.0%. This means purchasing power is declining faster than intended.
Purchasing Power
At this high inflation rate, purchasing power rapidly decreases. This has a major impact on households, especially without adequate salary increases.
What you could buy for €100 this year will cost approximately €116.90 next year at this inflation rate.
Multi-year trend
Monthly figures 2023
Month overview
| Month | Inflation | Difference vs. 2022 |
|---|---|---|
| January | 13.1% | +5.3 |
| February | 13.6% | +5.3 |
| March | 14.8% | +6.6 |
| April | 17.4% | +5.7 |
| May | 17.2% | +5.6 |
| June | 17.8% | +6.1 |
| July | 18.4% | +6.1 |
| August | 18.4% | +5.5 |
| September | 18.5% | +5.2 |
| October | 18.0% | +4.8 |
| November | 18.4% | +5.4 |
| December | 17.3% | +3.6 |
| Average | 16.9% |
Data source
Data from WorldBank. Last updated: 06/01/2026.