A Georgian parliamentary report on rising food prices in the country has found that reducing prices would be difficult without ‘structural reforms’. It came as the National Statistics Bureau (Geostat) announced that inflation in the food sector stood at 7.5% in April.
The commission was formed in February after Prime Minister Irakli Kobakhidze called for an investigation into possible ‘cartel-like’ practices amongst Georgian food distributors and retailers.
The lengthy report stated that reforms should include improving transparency, enhancing logistics, and reducing financial pressure on businesses.
According to the report, the retail market is competitive, profit margins vary, but structural issues hinder price stabilization and reduction.