20
June
2017
According to the preliminary statistics released by GeoStat, Georgia’s GDP in Q1 of 2017 grew by 5.0% YoY – the highest growth rate since Q3 2014. What lies behind such spectacular growth numbers? First and foremost, it stems from the genuine improvement in the economic situation in the region, which has resulted in increased exports, FDI, tourism, and remittances. Secondly, the sharp increase in the growth rate in December 2016 “lifted” the GDP base and allowed normal GDP improvements to look even better compared to last year’s levels.
19
June
2017
In the middle of June, food prices increased by 5.0% on an annual basis (that is, compared to June 2016), but decreased by 0.3% on a monthly basis (that is, compared to May 2017). During the last two weeks, greens, potatoes, and cabbage showed the biggest increase in prices by 29.4%, 23.8%, and 23.3%, respectively. In the meantime, tomato, cucumber and cheese prices dropped by 26.8%, 15.7% and 7.1%, respectively.
19
June
2017
In May 2017, the average cost of cooking one standard Imeretian khachapuri declined to 3.14 GEL – a 5.4% decrease month-on-month (compared to April 2017). In annual terms (compared to May 2016), however, the Index gained 8.5%.
05
June
2017
In May 2017, the price of cooking one standard Imeretian khachapuri continued its normal seasonal decreasing trend and reached 3.14 GEL, which is 5.4% lower month-on-month (compared to April 2017), but 8.5% higher year-on-year (compared to May 2016). The main contributor to the price change was a seasonal decrease in the price of cheese, which fell by -10.1%, compared to the previous month (April 2017).
31
May
2017
By the end of May, ISET’s Retail Food Price Index increased by 5.5% y/y (compared to May 2016); on a monthly basis (compared to April 2017), retail food prices slightly decreased, by 0.4%. The largest bi-weekly price changes were recorded for seasonal food products such as fresh fruit and vegetables. Prices dropped the most for tomatoes (-28%), garlic (-21%), and cucumber (-8.3%).
