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Food prices increase in Georgia

Food prices have increased in Georgia, the information-analytical portal Georgia Online said March 4.

The cost of almost all types of food increases in grocery stores of the country, according to information.

Over the last month, the price of vegetable oil rose in average by 50 tetri. ($1 = 2.14 GEL)

Sugar and buckwheat prices rose by 25 tetri. Sweets, coffee, salt, hygiene products and detergents prices also rose.

In addition, starting from March, 1 price for alcoholic beverages also rose, which is associated with an increase in excise duty.

The cost for all types of Coca-Cola products has increased by 10-25 tetri.

The prices mainly began to rise after lari began to depreciate, according to the trade representatives
Lari exchange rate in relation to the US dollar began to decline starting from November 20, 2014.

On the results of the last trading, lari rate was set at 2,16GEL / $1.

Until November 20, 2014, exchange rate of the national currency of Georgia was 1, 74-1, 76 GEL / $1.

In connection with the expected rise in prices in Georgia due to the devaluation of lari exchange rate, the National Bank of the country in February began to tighten monetary policy.