Investment bank Galt & Taggart has raised its 2026 average inflation forecast for Georgia from 5.3% to 5.5% following higher-than-expected price growth in October. Consumer prices increased by 0.9% month-on-month, bringing annual inflation to 5.9%, above the bank’s expectations.
According to the bank’s weekly update, the acceleration was mainly driven by imported inflation, which rose to 9.4% year-on-year in October, compared with 7.8% in September. Higher petrol and diesel prices were the main contributors, while annual inflation excluding fuel remained largely stable.
However, underlying price pressures also increased slightly. Core inflation accelerated from 3.5% to 3.9%, while services inflation rose from 3.7% to 4%.
Galt & Taggart expects inflation to slow to 3.2% in 2027, reflecting an anticipated moderation in price growth.
