Current inflation საქართველო 9.7%
July 2024
Current Inflation
Inflation is very high at 12.8%, far above the ECB target.
Historical Context
Current inflation is 1.9% higher than the 5-year average of 10.9%.
- 5-year average
- 10.9%
- 10-year average
- 9%
- All-time high (2023)
- 16.9%
- All-time low (2006)
- 2.1%
Trend
Inflation shows an upward trend. Compared to 2023, inflation has risen by -4.1 percentage point.
ECB Target
Inflation is 10.8% 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 €112.80 next year at this inflation rate.
Last 12 months
5-year trend
Statistics
- This year (avg.)
- 12.8%
- Last year
- 16.9%
- 5-year average
- 12.8%
- All-time high (2023)
- 16.9%