Over the past decade, Georgia has experienced an overall inflation rate of 54.6%, with prices for certain products even tripling.
Consequently, the cost of living continues to rise annually, while income growth remains stagnant, adversely impacting people's economic well-being.
Analysis of Sakstat data reveals that over the past decade, bread prices have risen by 83%, meat by 99%, vegetables by 121%. Below, we present data for several key food products, illustrating how their prices have changed in the last 10 years:
• Wheat bread - rose by 82.82%;
• Rice - rose by 92.02%;
• Pasta and pasta products - rose by 64.63%;
• Beef — rose by 98.91%;
• Pork — rose by 42.52%;
• Factory milk — rose by 69.44%;
• Imeretian cheese — rose by 133.75%;
• Sulguni — rose by 119.53%;
• Sunflower oil — rose by 67.40%;
• Greens — rose by 121.39%;
• Cucumbers - rose by 158.02%;
• Potatoes - rose by 117%;
• Sugar - rose by 54.36%.
According to the Doctor of Economics Irakli Makalatia, while in developed countries food accounts for only 11% of total expenditure, in Georgia this figure exceeds 30%, which indicates a low level of income.
When asked why incomes are not keeping pace with the rise in food prices, Irakli Makalatia points to two main factors. In his opinion, firstly, amid small production the country depends on imports, secondly, the money supply in the country grows faster than its economy.
