The annual gap in retail prices in Georgia has narrowed significantly; the trend may continue throughout June
Fruits
Vegetables
Georgia
Published Jun 6, 2023
Tridge summary
EastFruit analysts note that the level of consumer prices in Georgia falls to the target range of the National Bank. After a rapid rise since 2019, retail price growth has finally slowed down.
Original content
Data source: Geostat Compared to the previous month, food prices fell by 1.7%. GeoStat singles out a group of vegetables that have fallen in price by 5%. The average price level for all goods and services, and this is practically everything that the Georgian consumer buys, and not just food or vegetables, fell by 0.1%. Annual inflation, or the annual change in total retail prices for all goods and services, was 1.5% in May 2023, well below the target of 3%. Food price changes were very close to the target, with the average retail price per food group being 3.3% higher than a year earlier. The gap is wider for vegetables, with the group average price up 6.3% compared to May 2022. However, there should be negative pressure on prices in June. Annual price changes for fruits and vegetables for May 2023 are as follows: Data source: Geostat GeoStat publishes price indices for 23 types of fruits, nuts and vegetables. As we can see, most of the goods fell in price year on year. Only two ...
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