ISET

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After a couple of declines, food prices in the largest supermarkets in Georgia have increased. In the first two weeks of November, an upward trend was maintained: Retail FPI was 2% higher compared to the same period of October. Increase in FPI was driven by an increase in the price of fruits and vegetables. On an annual basis, we still record a significant overall 9.5% decline (November 2016 VS November 2015).

IN THE SPOTLIGHT

According to data from the first two weeks of November, the price increase leaders were cucumber (26%), carrot (25%), and eggplant (24%). Not all food items became more expensive. The largest, but still modest bi-weekly price drops were observed for buckwheat (7%), cabbage (6%) and wheat flour (4%).

Details

Georgian retail prices increased at the end of October. Driven by seasonal fruits and vegetables, ISET’s Retail Food Price index gained 2.2% m/m (compared to the last week of September). However, compared to October 2015, we still observed a significant 13.5% decline in food prices.


IN THE SPOTLIGHT

In the most noteworthy news, bi-weekly price increases were recorded for tomatoes (66%), cucumber (52%), and eggplant (29%). Despite an overall upward trend in food prices, some products are becoming cheaper. The biggest price declines were observed for tangerines (12%), rice (10%), and bananas (9.3%).

Details

In the second week of October, food prices kept going down: ISET’s Retail Food Price index lost 0.8% m/m (compared to the last week of September) and 15% y/y (compared to October 2015). The largest bi-weekly price changes were recorded for seasonal food products such as fresh fruit and vegetables. Prices moved down the most for coriander (-23%), onion (-8%), and cabbage (-6%). The biggest price increases were recorded for the following items: tomatoes (33%), eggplant (27%), and garlic (25%).

Details

Having experienced a temporary 1% spike in August, food prices are going down again. In the second week of September, ISET’s Retail Food Price Index dropped 0.7% m/m (compared to August 2016) and 2% y/y (compared to September 2015).


IN THE SPOTLIGHT

Compared to the end of August, the biggest prices declines were observed for coffee (-17%), apple (-15.5%), and rice (-14.3%). Prices moved up the most for the following food items: peach (35%), cucumber (17.2%), and eggplant (14.3%).

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