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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.
WHEAT PRODUCTION IN GEORGIA
During the last couple of years, wheat flour prices in the major supermarkets of Tbilisi ranged from 1.8 GEL/kg to 2.1 GEL/kg. According to the diagram, wheat prices were relatively low during the first half of the 2015, but increased in the second half of the year.
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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%). Prices increased the most for cabbage (23.3%), potatoes (17.7%), and greens (14.3%).
IN THE SPOTLIGHT: TOMATOES
Compared to the previous month, tomatoes became cheaper: the average price of 1 kg of tomatoes went down, from 3.65GEL to 3.34GEL. While price declines in the fresh produce category are always expected at this time of the year, tomatoes are also trading below last year’s prices.
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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). The price of cucumbers, eggplants and greens became significantly lower, and decreased by 60.0%, 25.8% and 15.4% respectively.
A CLOSER LOOK AT CABBAGE PRICES
Cabbage is among the products that exhibited the largest increase in prices in May compared to the same month of the previous year. The price of cabbage now is around 1 GEL, whereas last year it was 0.47 GEL on average in the same time period. Thus, cabbage prices in the major supermarkets of Tbilisi has more than doubled y/y.
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By the end of April, food prices increased by 4.0% on an annual basis (that is, compared to April 2016) but decreased by 0.9% on a monthly basis (that is, compared to March 2017). During the last two weeks of April, onions, potatoes and tomatoes showed the biggest increase in prices by 23.2%, 13.5%, and 10.1%, respectively. In the meantime, cucumber, eggplant and greens’ prices dropped by 45.1%, 17.6% and 13.9%, respectively.
DRINKS IN THE SPOTLIGHT
While the overall y/y increase in prices was 4.0%, the gain in value was particularly noticeable for some products. Coffee is a good example, because its price increased by 16.0% in April of 2017, compared to the same month of 2016, in spite of last year’s 2.0% drop (April 2016 compared to April of 2015).
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