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 GEL 100 this year will cost approximately GEL 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%