Georgian Distributors Business Association says that, at this stage, there is no expectation of accelerated inflation for food products in Georgia. According to the association’s chairman, Lasha Rizhamadze, the recent increase in food prices was driven by a combination of international market trends and adjustments in supplier contracts by the retail sector.
Rizhamadze explained that the inflationary impact on food has largely already occurred in recent months and is reflected in official statistics. He emphasized that, unless there are new significant changes in external conditions, further price increases are unlikely.
He added that maintaining stable relations with retail chains and a steady exchange rate of the lari are key factors in preventing sudden price spikes in the consumer basket. These conditions, if sustained, should help keep food prices stable in the near term.
For context, annual inflation in Georgia in November reached 4.8%, down 0.4 percentage points from October, but still above the National Bank’s target rate of 3%.
