The State Security Service of Georgia (SSSG) will launch a detailed examination of consumer price-related issues, within its competence, said Lasha Maghradze, Deputy Head of the SSSG.

According to Maghradze, any illegal action that harms the interests of Georgian citizens and the country’s economic security will be responded to with strict legal consequences.

“The State Security Service, within its competence, launches an examination of consumer prices-related issues in detail. Any illegal action that harms the interests of Georgian citizens and the country’s economic security will be responded to by strict legal consequences,” he said.

For information, Georgian Prime Minister Irakli Kobakhidze remarked in his video address regarding consumer prices that, amid high profit margins, companies are rapidly expanding their retail networks. He said that preliminary analyses indicate several key factors that may be contributing to high mark-ups and, consequently, elevated prices.

According to the PM, existing practices raise suspicions that market players may be acting in concert, following cartel principles. He called on law enforcement agencies “to examine the issue in detail and determine whether there are any indications of criminal activity by specific entities.”