inflation

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Demonstrations against rising fuel prices in Tbilisi on 27 March. Shota Kincha/OC Media.

Analysis

Datablog | Inflation and a Georgian’s choice of fuel

by Makhare Atchaidze

•3 min read

A global pandemic and Russia’s invasion of Ukraine have both contributed to skyrocketing rates of inflation worldwide. Georgia is no exception, as people reevaluated their preferences for fuel throughout the past two years. In August 2022, Georgia’s inflation rate stood at 10.9%, with the price of petrol rising by 18% and the price of diesel by 45% compared with those of August 2021 — this is due in large part to Russia’s invasion of Ukraine. In response to rising fuel prices, Georgian drive

Armenia

A strong dram and rising inflation leave Armenians in a bind

by Ani Avetisyan

•4 min read

Following Russia’s Invasion of Ukraine, a strong dram has hurt Armenian exporters while inflation has continued to skyrocket — delivering a double helping of economic misery to Armenians. A small shop near the Yerevan–Gyumri highway serves the local community of Agarak and travellers coming to and from Yerevan. Despite the recent economic downturn in Armenia and the world, the shop has maintained almost the same profits as before. Gevorg Karapetyan, the owner, says that people still spend the

Azerbaijan

Azerbaijan’s soaring food prices

by Gulnur Kazimova

•4 min read

A recent increase in food prices has left many in Azerbaijan reeling. As debate around the causes and possible solutions to the problem continue, it is the most vulnerable who are paying the biggest cost. ‘Everything increases in price while the salaries stay the same’, says Sahib Mammadov, a shopkeep from Ganja. Sahib earns ₼380 ($220) per month, and a recent spike in food prices means that, he, like thousands of his compatriots, has found his budgets stretched to the limit. ‘At the beg