Within the period from 2016 to 2017, the average inflation rate in Georgia was 5%. According to the data provided by TBC Research, during this period, the consumer price growth rate in CIS countries was 9.4%.
Registered inflation rate in Armenia, Romania, Czech Republic and Poland was lower than in Georgia. In EU, average inflation rate for a 10-year period had been 1.8%.
Average inflation rates for 2006-2017 are following:
EU – 1.8%
CIS – 9.4%
Poland – 1.9%
Czech Republic – 2.1%
Bulgaria – 3%
Hungary – 3.4%
Estonia – 3.5%
Romania – 3.7%
Armenia – 4.2%
Georgia – 5%
Azerbaijan – 8%
Turkey – 8.5%
Kazakhstan – 8.8%
Russia – 8.8%
Ukraine – 14.1%
In the same period, depreciation of Georgian lari to US dollar made 3%, while lira, National currency of Georgia’s neighboring Turkey, depreciated by 8%. In 2006-2017, Ukrainian grivna depreciated by 7.2%, while depreciation of Hungarian forint and Polish zloty made 3.1% and 2.2% respectively.
