On March 14, the ISET Policy Institute organized a roundtable discussion on Food Prices, Price Controls, and their Potential Impact on Georgia’s Economy. The event was attended by experts from local and international institutions who shared their views and exchanged ideas on proposed policy solutions.

In February 2023, the average cost of cooking one standard portion of Imeretian khachapuri stood at 6.94 GEL. This latest average price is 18.4% higher than in February 2022. While in month-to-month developments, the price of a khachapuri increased marginally by 0.1% compared to the previous month of January 2023.

Russia’s invasion of Ukraine profoundly impacted the global economy, immediately sending shockwaves across the globe. The attack of a country that was once a major energy supplier to Europe on the country which was one of the top food exporters in the world, sent food and fuel prices spiraling, causing major energy shortages and the prospect of protracted recession in the United States and the European Union.

According to Geostat's report titled “Tendency of Economic Growth, Indicators of Monthly Economic Statistics”, the real GDP growth in the fourth quarter of 2022 is estimated to be 9.5%, which has contributed to an overall annual real GDP growth of 10.1% in 2022.

In January 2023, the average cost of cooking one standard portion of Imeretian khachapuri increased annually – ranging between 6.88 GEL (Batumi) and 7.25 GEL (Telavi), with an average cost of 6.93 GEL. This latest average price is 19.7% higher than in January 2022.