"In December 2023, the annual inflation level was 0.4%, while the average inflation level during the year was determined at 2.5%. Last year, Georgia was able not only to maintain a high economic growth rate, but also became one of the first countries in the region and Europe, which managed to curb inflation and bring it below the 3%-target. It should be noted that in December the price reduction was maintained for many groups of the consumer basket, including food and non-alcoholic beverages and medicines, which is an important benefit for the broad sections of the society," - the Deputy Minister of Economy and Sustainable Development of Georgia Vakhtang Tsintsadze said, while assessing the 2023 consumer price index published by the Geostat.
According to the Deputy Minister's assessment, the reduction of inflation and bringing it down to the target level was made possible by the purposeful and consistent economic and monetary policy of the Government of Georgia and the National Bank of Georgia, which, in fact, allowed Georgia to be one of the leaders in the direction of reducing inflation.
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One US dollar trades at GEL 2.7064
11/11/2025
