Georgia’s annual inflation hit three-year high 11.2% in December, up from 10.5% in November, the state statistics office said on January 6.

The government had to revise upwards 2010 forecasted inflation from initial 6% for at least twice in the course of 2010.

Speaking at a government meeting on January 5, PM Nika Gilauri said that 2010 “was difficult from the economic point of view, but quite successful, as economic growth was higher than we initially estimated.”

“But the inflationary pressure was also high, which had a certain negative effect on society and economy,” PM Gilauri said.