In May 2017, the Consumer Confidence Index (CCI) sustains its upward trend, increasing by 3.6 points compared to April (moving from -25.6 to -21.9). Its first component, the Present Situation Index, rises by 3.4 points (from -32.8 to -29.4), and its second component, the Expectations Index, goes up by 4.2 points (from -18.5 to -14.3).

“The Economics of Nature. Can Georgia afford Economic Growth without Taking Care of its Nature?” was the title of a panel discussion jointly organized by GIZ and ISET, and examined an important issue facing the country.

On May 23, ISET-PI hosted the launch ceremony of ReforMeter, which was attended by representatives of government institutions, NGOs, and international organizations. Welcoming remarks were made by Shamennna K. Gall, the acting Deputy Economic Growth Offices of the US Embassy, and Bruno Balvanera, the EBRD Director for the Caucasus, Moldova, and Belarus.

Retail food prices increased by 3.4% on an annual basis (that is, compared to May 2016), but decreased by 1.2% on a monthly basis (that is, compared to April 2017). The biggest price increase was for cabbage, potatoes, and peaches (76.5%, 30.2%, and 17.5%, respectively).

On May 22, ISET hosted Francois Painchaud, the IMF Resident Representative in Georgia. Mr. Painchaud presented the 2017 May Regional Economic Outlook for the Caucasus and Central Asia, highlighting the three main areas of the global and regional environment, outlook and policy actions, and policy priorities.