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Food Prices Hiked 5% -10%

A permanent depreciation of the exchange rate of GEL in the last month has caused an increase in prices for the food products in most trade networks.

The trade network Foodmart states that price of essential products hiked by 5%-10%  due to  the GEL  depreciation. The price increase would affect 30% of  products .

The representatives of the  network say they manage to keep  prices  through private negotiations with providers, but if the exchange rate does not stabilize,  suppliers will not maintain  prices.

The rise in prices was reflected in “Nugeshshi”,  the trading network for poor population.  Suppliers increased  the price of goods. The company had to raise prices for  60% of imported products after the stock expired.

Hypermarket “Carrefour” is trying to do  the maximum that depends on them  to avoid am impact of  GEL depreciation on prices. They say, “Carrefour” suppliers are mainly from European countries, GEL fall against the euro will have  less impact on prices. However, the prices still changed for a minor part of the products in their  trade network.

Given a fact that a drop in GEL against the euro will have less impact on products, prices have not changed and   the sale prices are still competitive.