Georgian PM vows to cut food prices nationwide

Georgian Prime Minister Irakli Kobakhidze has promised to reduce food prices across the country.

PM highlighted the significant price differences between domestic products and those in Europe: pasta is 97% more expensive, rice 180%, butter 30%, cheese 42%, and chocolate 47% higher, Caliber. Az reports per Sputnik Georgia.

“The price gap is caused by high markups from distributors and retailers, which on average account for 86% from the Georgian border to the store shelf,” he said.

Authorities will now begin negotiations with distributors and retail chains and, if necessary, use antitrust mechanisms. 

The Ministry of Internal Affairs has been tasked with investigating potential criminal activity linked to high prices, and the parliament will establish a commission to assess the situation.

These new actions echo the government’s earlier attempts to control food prices. In 2020, price caps were set on several essential items, but were lifted in 2021.

By Jeyhun Aghazada