Latest Issue: March 16, 2015


In February, the average cost of cooking one standard Imeretian Khachapuri dropped to 3.29GEL, which is 3.4% lower month-on-month (compared to January 2015), and 4.8% lower year-on-year (compared to February 2014). At least as far as khachapuri ingredients are concerned, prices are going down, not up.

The main contributors to y/y Khachapuri Index deflation in February were cheese (-11.5%), eggs (-1.1%) and butter (-2%). Price of the following products increased: flour (12.3%), yeast (18.9%) and milk (5.1%).

The general Consumer Price Index (CPI) is based on a much broader basket of goods and services, yet CPI inflation in February 2014 is very much business-as-usual: 0.1% m-o-m, 1.3% y-o-y.

Fairly large increases were recorded for the following goods categories: alcoholic beverages and tobacco (8.1%), health (6.4%), restaurants & hotels (2.8%). Food and non-alcoholic beverages – the single largest category in the CPI – increased by only 1.9%. Price decreased for transport (-7.8%), as well as clothing and footwear (-5.4%).


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# Date Title Topic
155 24/11/14 Economic Reflexions in the Kakheti Mountains Social Policy
154 17/11/14 Kakha Bendukidze. End of an Epoch? Social Policy
153 10/11/14 Khachapuri and Consumer Price Index Inflation Social Policy
152 03/11/14 Georgia Needs Punitive Damages Social Policy
151 27/10/14 Crime and Punishment in Georgia Social Policy
150 20/10/14 Market Twilight Social Policy
149 13/10/14 Is Capitalism the Final Stage of History? Social Policy
148 06/10/14 The Economic Potential of Georgian Wine Social Policy
147 29/09/14 The Ice Bucket Challenge: Does Motivation Matter? Social Policy
146 22/09/14 Georgian Egg Prices: the Roller Coaster Ride Continues Social Policy
145 15/09/14 Who Defends the Workman’s Interests? Social Policy
144 08/09/14 The New Prescription Rules: Repeating Western Mistakes Social Policy
143 14/07/14 Common Language, Education, and Nation Building Social Policy
142 07/07/14 Survival of the Fittest in Georgian Agriculture Social Policy
141 30/06/14 Georgian Neportism Social Policy
140 23/06/14 On Soviet Science Social Policy
139 16/06/14 Georgia – a Country Between Poland and Korea Social Policy
138 09/06/14 Redistribution versus Growth: Georgia at The Crossroads Social Policy
137 02/06/14 Pawnshop Mentality Microeconomics
136 26/05/14 Discrimination in Georgia Social Policy
135 19/05/14 Becoming Rich Delayed Social Policy
134 12/05/14 Removing Educational Bottlenecks Social Policy
133 05/05/14 The Mystery of the Russian Economy (Part 2) Social Policy
132 28/04/14 The Mystery of the Russian Economy Social Policy
131 21/04/14 Can Georgia Develop a Knowledge-Based Economy? Social Policy
130 14/04/14 Fine and Punishment Microeconomics
129 07/04/14 Do Economies Need Economists? Social Policy
128 31/03/14 The Ethics of Empty Stomachs Social Policy
127 24/03/14 Yes, We Trust! Social Policy
126 17/03/14 "Inclusive Growth" Policies: Roads Paved With Good Intentions Macroeconomic Policy
125 10/03/14 Are Georgians too Impatient? Social Policy
124 03/03/14 Tiger in the Caucasus? Social Policy
123 24/02/14 Should We Regulate? Social Policy
122 17/02/14 Regulating Rightly Social Policy
121 10/02/14 Why Nations Fail Social Policy
120 03/02/14 The Lari Depreciation Macroeconomic Policy
119 27/01/14 Towards a More Equitable Georgia Social Policy
118 21/01/14 Beyond Fairness and Envy: The Economic Effects of Income Inequality Social Policy
117 9/12/13 The Educational Choices We Make... Microeconomics
116 16/12/13 The Georgian Egg of Discord Agricultural Policy
115 9/12/13 The Need for Strategic Research Agricultural Policy
114 2/12/13 Language and Economics Social Policy
113 25/11/13 Rural Unemployment Through Productivity Gains Agricultural Policy
112 18/11/13 Georgia Riding the Waves of a Political Business Cycle Macroeconomic Policy
111 11/11/13 Georgia's Growth Slowdown - The Case of a Political Business Cycle? Macroeconomic Policy
110 04/11/13 From Thieves-in-Law Towards the Rule of Law Social Policy
109 28/10/13 The Georgian Solution to the Tragedy of the Commons Social Policy
108 21/10/13 Georgia on the Development Frontier: From Subsistence Agriculture to Exchange Agricultural Policy
107 14/10/13 The University of Life Other
106 07/10/13 The Two Faces of Foreign Direct Investment Macroeconomic Policy
105 30/09/13 Dear Police: There is a Bomb. Please Find It! Other
104 23/09/13 The Most Economical Economic Indicators Macroeconomic Policy
103 16/09/13 The Voluntariness Mantra Refuted Social Policy
102 09/09/13 Tchiatura and the Resource Curse Micro-level Competition Analysis
101 29/07/13 Exporting Education Social Policy
100 22/07/13 The Strategic Dilemma of the Tbilisi Marshrutka Drivers Micro-level Competition Analysis
99 15/07/13 The "Wizz Air Effect" or how Georgia Became Part of the Global Economy Micro-level Competition Analysis
98 7/07/13 Tbilisi - A City for Cars, Not for People Social Policy
97 1/07/13 Georgia's National Competitiveness Macroeconomic Policy
96 24/06/13 If You Are So Smart, Why Aren't You Rich? Macroeconomic Policy
95 17/06/13 Georgia's Current Account Deficits: Good or Bad? Macroeconomic Policy
94 10/06/13 Jaywalking in Georgian Other
93 3/06/13 Riding the Dragon Macroeconomic Policy
92 27/05/13 The Tides of Markets Macroeconomic Policy
91 20/05/13 Does Georgia Need Its Own Currency? Macroeconomic Policy
90 13/05/13 Georgia's Human Resources Macroeconomic Policy
89 6/05/13 Social Capital Social Policy
88 29/04/13 Fiscal Transparency Macroeconomic Policy
87 22/04/13 Jobless Growth in Georgia Social Policy
86 15/04/13 Does Roads Infrastructure Promote Regional Development? Social Policy
85 8/04/13 The Gender Pay Gap Social Policy
84 1/04/13 Food Economics Agricultural Policy
83 25/03/13 Different Capitalisms Macroeconomic Policy
82 18/03/13 The Economics of Happiness Social Policy
81 11/03/13 The Price of Money Macroeconomic Policy
80 4/03/13 Poverty in Georgia Social Policy
79 25/02/13 Which is Better: Schooling or Homeschooling? Other
78 18/02/13 The Future of Labor Macroeconomic Policy
77 11/02/13 Use of Consumer Confidence Index Macroeconomic Policy
76 28/01/13 Dependence on Global Prices Macroeconomic Policy
75 21/01/13 Christmas Trees - the Only Business in which Georgia Holds a 97% Share of the Foreign Market! Agricultural Policy
74 24/12/12 A Special New Year Edition Other
73 17/12/12 Touristic Destination or Trade Corridor? Macroeconomic Policy
72 10/12/12 Economics Growth and Income Inequality in Georgia Social Policy
71 19/11/12 Roads and Rural Development: The case of Samtskhe Javakheti Macroeconomic Policy
70 26/11/12 The Puzzle Agricultural Productivity in Georgia and Armenia Agricultural Policy
69 19/11/12 Mass Family Gatherings in Georgia: Tradition of Waste or a Form of Insurance? Social Policy
68 12/11/12 Price Stability - The Lull Before the Storm? Macroeconomic Policy
67 5/11/12 Consumer Confidence Boosted by Elections, in Tbilisi Political Economy
66 22/10/12 Politics and Electricity Prices Political Economy
65 15/10/12 Elections and Consumer Confidence Political Economy
64 8/10/12 Democracy and Economic Growth Political Economy
63 1/10/12 Breaking the Vicious Circle of Poverty and Inequality Social Policy
62 25/09/12 Labor Migrations and Remittances to Georgia Macroeconomic Policy
61 17/09/12 Farmer Cooperation, The Nikozi Experiment Assessed Agricultural Policy
60 10/09/12 No Money, No Venture, No Gain in Georgia's Agriculture Macroeconomic Policy
59 3/09/12 Who is Able to Afford a Khachapuri? Social Policy
58 27/08/12 Wives For Sale: The Economic Rationale Behind Marriage Payments in the Georgian Highlands Social Policy
57 6/08/12 Georgian Driving Manners and Economic Competitiveness Macroeconomic Policy
56 30/07/12 What Can Help Reduce Regional Disparities In Georgia? Regional Policy
55 23/07/12 Georgian Consumer Sentiment Shooting Up In June 2012: Is It The Sun, Food, Prices, Or What? Macroeconomic Policy
54 9/07/12 It Is Inefficient Marketing, Stupid! Agricultural Policy
53 9/07/12 Cheese and Children as Investment Assets? Macroeconomic Policy
52 2/07/12 Everything You Wanted to Know About Your Electricity Bill Industrial Organization
51 25/06/12 Happy Birthday Khachapuri Index! Agricultural Policy
50 18/06/12 Why Elections Happen in the Fall? Political Economy
49 11/06/12 Expectations and Prices Macroeconomic Policy
48 4/06/12 Are Georgian Village Communities able to Organize Themselves? The Case of Shrosha Agricultural Policy
47 28/05/12 IMF Monetary Policy Prescriptions in Action Macroeconomic Policy
46 14/05/12 Economics and Religion Other
45 7/05/12 CPI Deflator and Real GDP Macroeconomic Policy
44 30/04/12 Georgia‘s Trade Deficit Trade Policy
43 23/04/12 Carrefour Elephant in the Georgian Retail Market Industrial Organization
42 16/04/12 How Rich Georgia Really Is? Macroeconomic Policy
41 9/04/12 Consumer Price Index Inflation in Georgia: 2011 vs 2012 Macroeconomic Policy
40 2/04/12 No News Is Not Good News for Georgian Farmers Micro-level Competition Analysis
39 26/03/12 Seasonal Versus Year–Round Milk Production Agricultural Policy
38 19/03/12 Are Declining Prices Good For The Economy? Macroeconomic Policy
37 12/03/12 Is Small Scale Agriculture Necessarily Inefficient? Agricultural Policy
36 5/03/12 Why Do We Need a National Currency? Macroeconomic Policy
35 27/02/12 The Price of Bread and Democracy Political Economy
34 20/02/12 The Less Food (in the Consumer Basket) the Better! Macroeconomic Policy
33 13/02/12 What Can Governments Do to Reduce Regional Disparities? Regional Policy
32 6/02/12 Cheese and Wine, a Tale of Two Georgian Product Agricultural Policy
31 30/01/12 How Much Georgia Exports? Trade Policy
30 23/01/12 Perceptions Do Matter Macroeconomic Policy
29 16/01/12 If the Mountain won‘t Come to Muhammad, Muhammad Must Go to the Mountain Regional Policy
28 26/01/11 Is Georgia a Cheap Country? Trade Policy
27 19/12/11 A Cigarette a Day Keeps the Doctor Away… in Georgia Social Policy
26 12/12/11 When Supply Meets Demand… Micro-level Competition Analysis
25 5/12/11 Seasonal Products and Inflation Macroeconomic Policy
24 28/11/11 Is GEL Exchange Rate Misaligned According to Khachapuri and Big Mac Indices? Macroeconomic Policy
23 21/11/11 Khachapuri a Day Keeps Poverty Away! Social Policy
22 14/11/11 Tired of Looking for Spare Parts for Your Car? Market Size Matters! Micro-level Competition Analysis
21 7/11/11 Inflation in Georgia Coming to a Halt? Macroeconomic Policy
20 31/10/11 Real Exchange Rate of the GEL and the ISET Khachapuri Index Trade Policy
19 24/10/11 Global Commodity Price Volatility Trade Policy
18 17/10/11 How Come the Same Product Is Sold at Different Prices in the Same Market? Micro-level Competition Analysis
17 10/10/11 Short–Term Volatility in the Price of Agricultural Commodities Agricultural Policy
16 26/09/11 When Are Markets (un)Competitive Micro-level Competition Analysis
15 19/09/11 Real Exchange Rate of the GEL Macroeconomic Policy
14 12/09/11 Global Commodity Price Dynamics and Inflation in Georgia Macroeconomic Policy
13 5/09/11 Peak Load in the Georgian Tourism Industry Industrial Organization
12 29/08/11 Better Coordination, Planning and Veterinary Controls can Help Reduce the Risk in Georgian Agriculture Agricultural Policy
11 22/08/11 Khachapuri Index for Hard Currency Earners Macroeconomic Policy
10 15/08/11 Consumer Price Index – Marshrutkas vs Potatos Macroeconomic Policy
9 8/08/11 Georgia‘s Economic Geography Regional Policy
8 1/08/11 Seasonal Fluctuations in Tourism, the Case of Bakuriani Industrial Organization
7 18/07/11 Opening Up the Black Box of the Consumer Price Index (CPI) Macroeconomic Policy
6 11/07/11 What Can Explain the Opposite Movement of Kh-Index in Tbilisi and Other Cities in Our Sample? Regional Policy
5 4/07/11 Buy Agricultural Products in Summer to Consume in Winter Agricultural Policy
4 27/06/11 Real Appreciation of the Local Currency – Is It Good or Bad? Macroeconomic Policy
3 20/06/11 Georgia Is a Tiny Fraction of the Global Economy Trade Policy
2 13/06/11 Purchasing Power Macroeconomic Policy
1 6/06/11 Seasonal Fluctuations Statistical Theory

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