Cost of living to be increased by 300 GEL this year
Wednesday, July 29GEL devaluation has already negatively affected the population in terms of cost of living.
Increased prices on food, essential products, medication and taxes resulted in significant increase in how much a family need to survive.
The electricity tariff will also be increased in the nearest days, which will lead to an automatic increase in consumer prices. In the end, the annual costs for an average family will be increased by at least 300 GEL due to the GEL depreciation.
Our national currency has depreciated by 20% since January 2015.
The cost of 1 USD in January was 1.8821 GEL, while today itís 2.2558. The depreciation was automatically reflected in the inflation rate.
For the last 7 months prices have risen almost on everything needed by a typical family: food, essential goods, hygiene products, medications, fuel, alcoholic and non-alcoholic beverages, Internet prices.
As of next week, electricity tariffs will be increased by 70% that will lead to another wave of price increase for consumers. Entrepreneurs are already preparing for the price surge. Price changes are expected in bakeries, warehouse farms and refinery factories as well.
Also, with great probability, prices will be raised on imported products that cannot be kept for a long time. (IPN)