Georgian Economy and Sustainable Development Minister Levan Davitashvili claimed that inflation peaked the last May and settled at 9.4% in January 2023. The minister told GPB’s First Channel’s Tavisupali Khedva (Free Vision) programme that falling inflation means lower pricing for basic consumer goods, including petrol.

According to Davitashvili, the Competition Agency carried out some research and came up with facts about artificially inflated pricing. In addition, the Prime Minister instructed the Cabinet to liaise with businesses and importers.

“We analysed both existing trends and projections, and the business sector agreed with us. I believe that by the end of the month, fuel prices for the primary fuel category, regular gasoline, should be decreased by 40 Tetris,” Davitashvili added.

In response to a question from presenter Giorgi Gvimradze on steps to manage high taxes, the minister noted that the government would explore all solutions, which would take time and may require legislative changes.

“We will monitor key consumer goods and processes once a month. If we feel a need to take more drastic measures, we can take them, but not at this point,” Levan Davitashvili stated.