ISET

The cost of cooking one standard Imeretian khachapuri in November 2018 averaged at 3.62 GEL, which is around 0.8% higher compared to October 2018 (month-on-month), and 2.2% lower in comparison to the previous year (November 2017).

The recent increase in Georgian bread prices was one of the most hotly debated topics within the country. Several ministers even commented on this rather significant price surge. Experts relate this rise to a lower harvest from exporter countries.

According to Indexmundi, starting from March 2018, international wheat prices were characterized by an increasing trend. However, international wheat prices started declining from September 2018. According to the USDA office of Global Analysis report, over the last three months the US and Canadian prices are up, with strong international demand, while Black Sea prices have declined slightly.

The average cost of cooking one standard portion of Imeretian Khachapuri stood at 3.62 GEL in November 2018. This is 0.8% higher month-on-month (compared to October 2018), and 2.2% lower year-on-year (compared to the previous November, 2017).

As the chart shows, the main contributors to the Khachapuri Index monthly inflation were milk (up by 1.5%), cheese (up by 1.3%), and butter (up by 0.6%). All other ingredients decreased in price: yeast (down by 0.5%), flour (down by 0.5%), and eggs (down by 0.2%).

The average cost of cooking one standard Imeretian khachapuri in October 2018 was 3.59 GEL, which is 1.1% higher month-on-month (compared to the previous month), and 1.2% lower year-on-year (compared to the same month of last year).

Trade statistics show that there is growing demand on bovine animals. In the last three years, exports of live cattle (beef and dairy) from Georgia increased by 26% on average. This means that there are fewer dairy cows left in the country, which is of course reflected in production volumes of milk. In 2017, milk production was 528,400 tones, which was 11,700 tones less than in 2016 and 37,900 tones less than in 2015.

ISET’s Khachapuri Index continued an increasing trend in October 2018, which is very much in line with the annual seasonal trend. The average cost of cooking one standard Imeretian khachapuri currently stands at 3.59 GEL, which is 1.1% higher month-on-month (compared to September 2018), and 1.2% lower year-on-year (compared to October 2017).

When comparing the average prices of khachapuri across cities, one can conclude that Tbilisi, the capital of Georgia, offers the lowest price. The average cost of a khachapuri there is 3.55 GEL, which is lower than the average prices in other cities. Moreover, looking at the minimum prices observed in every city shows that Tbilisi offers the greatest savings for those looking for the cheapest ingredients. Frugal people can save a solid 36.7% and pay just 2.60 GEL for one portion of khachapuri in Tbilisi if they invest time and effort into chasing the cheapest ingredients.

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