22
June
2016
Seasons change, and so do Georgian food prices. In the second week of June, Georgia’s major food retail networks (Carrefour, Goodwill, Fresco, and SPAR) lowered their prices by an average of 3.9% y/y and 1.8% m/m. Compared to the end of May, prices moved the most for the following food items: eggplant (-21%), pasta (-10.3%), and coffee (-5.7%); wheat flour (+11%), buckwheat (+10.5%), and garlic (+6.8%).
21
June
2016
Seasons change, and so do Georgian food prices. In the second week of June, Georgia’s major food retail networks (Carrefour, Goodwill, Fresco, and SPAR) lowered their prices by an average of 3.9% y/y and 1.8% m/m. Compared to the end of May, prices moved the most for the following food items: eggplant (-21%), pasta (-10.3%), and coffee (-5.7%); wheat flour (+11%), buckwheat (+10.5%), and garlic (+6.8%).
20
June
2016
Based on this month’s data, we expect annual growth in 2016 to be 2.7% in the worst-case or “no growth” scenario, and 4.1% in the best-case or “average long-term growth” scenario. Our “middle-of-the-road” scenario (based on the average growth in the last four quarters) predicts a 3.4% real GDP increase in 2016.
20
June
2016
In May 2016, the average cost of cooking one standard Imeretian khachapuri declined to 3.08 GEL, which is 2.7% lower month-on-month (m/m, that is compared to April 2016), but 7% higher year-on-year (y/y, compared to May 2015). Due to seasonal factors, the Index declined m/m in all cities included in our survey (Tbilisi, Kutaisi, and Telavi), except Batumi, Georgia’s Black Sea tourism hub.
19
June
2016
In the year of elections, any piece of economic analysis is usually seasoned with a hefty dose of caution. Every analyst is aware of the fact that the incumbents will be too eager to oversell the ‘good’, while the opposition will pound on the ‘bad’. Weary of taking sides in political battles, economists usually switch on their primary defense mechanism: they start relying (heavily) on the annoying “on the one hand”, “on the other hand” kinds of phrases. I am of course referring to Georgia in the year 2016.
