Rise in CCI: Consumer confidence increased by 3.3 index points from -34.4 in April to -31.1 in May. Both the Present Situation Index and the Expectations Index contributed to the increase, with the Present Situation Index increasing by 4.4 index points and the Expectations Index by 2.2 points.
The average cost of cooking one standard portion of Imeretian Khachapuri stood at 5.54 GEL in May 2022. This is 5.4% lower month-on-month (compared to April 2022), and 30% higher year-on-year (compared to May 2021).
CCI decreases again. After the CCI’s quick comeback in March, the index failed to continue the upward trend and fell again after February’s shock; the index decreased by 2.9 index points – from -31.5 in March to -34.4 in April. Both the Present Situation Index and the Expectations Index contributed to the decrease, with the Present Situation Index dropping by 2.9 index points
In April 2022, the average cost of cooking one standard Imeretian khachapuri increased to 5.86 GEL, which is 0.3% higher month-on-month (compared to March 2022) and 30.7% higher year-on-year (from April 2021).
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.