For the second quarter of 2022, business confidence in Georgia decreased (by 2.2 index points) and reached 15.1. The highest decrease in business confidence is observed in construction (-29.7), and wholesale and retail trade (-7.6) sectors. The negative change in BCI for Q2 2022 was driven by significantly worsened past performance.

CCI’s quick comeback. After consumer confidence hit the lowest point since the pandemic this February, it rapidly got back on track in March. The index increased by 10.9 index points, from -42.4 in February to -31.5 in March.

In March 2022, the average cost of cooking one standard Imeretian khachapuri stood at 5.84 GEL, which is 0.4% higher month-on-month compared to February 2022, and 31.4% higher year-on-year compared to March 2021.

A massive decline in CCI. The decline in consumer confidence continues. However, the magnitude in February is quite high—the index decreased by 10.1 index points and fell to -42.4, the all-time low seen since the pandemic hit.

In February 2022, the cost of cooking one standard Imeretian khachapuri increased both annually and monthly, ranging between 5.7 GEL (Kutaisi) and 6.1 GEL (Tbilisi), with an average cost of 5.8 GEL. The latest average price is 28.8% higher than in February 2021. In month-to-month developments, the price of a khachapuri is 0.8% higher compared to the previous month January 2022.