28
February
2020
GeoStat has published its rapid estimate of real GDP growth for the fourth quarter of 2019. Their estimated growth stands at 5.3%, which is 0.7 percentage points above ISET-PI’s most recent forecast. The annual real GDP growth for 2019 amounted to 5.2%. The real GDP growth rate reached 5.1% year-on-year for January 2020.
10
February
2020
In January 2020, the cost of cooking one standard Imeretian khachapuri continued to increase, ranging from 4.21 GEL (Kutaisi) to 4.38 GEL (Batumi), with the average cost being 4.30 GEL. The new average price is 18.3% higher than the price in January 2019. While in month-on-month development, the khachapuri price is 0.7% higher than in December 2019.
30
December
2019
In November 2019, prices for food and non-alcoholic beverages, as measured by the Food Price Index (FPI), drastically increased by 13.4% compared to November 2018 and contributed 4.02 percentage points to the change in the total Consumer Price Index (CPI). In recent months, annual food inflation marked at its highest level since August 2011 (Figure 1).
27
December
2019
Just like every Georgian family, ISET Policy Institute is preparing for the New Year, and we keep to our traditions and have cooked up a New Year Supra Index for our readers. The Index shows the cost of a standard festive supra meal for a family of five to six people in every Georgian region. The traditional dishes included in our calculations are: mtsvadi, satsivi (chicken in walnut sauce), khachapuri, trout, tabaka (fried) chicken, olivie salad, pkhali, cucumber&tomato salad, and for the desert, fruit and gozinaki (caramelized walnuts fried in honey).
23
December
2019
The real GDP growth rate reached 5.7% y/y in October 2019. As a result, the estimated real GDP growth for the first ten months of 2019 was 5.1%. ISET-PI’s real GDP growth forecast for the fourth quarter of 2019 remains at 4.4%.
