ISET

In June 2020, the average cost of cooking one standard portion of Imeretian khachapuri was 3.93 GEL. Compared to the previous year (June 2019), the Khachapuri Index gained 13%. While going up in yearly terms, the Index actually dropped by 4.2% compared to the previous month (May 2020).
Prices of all khachapuri ingredients except for flour decreased in June 2020 (compared to May 2020): cheese lost 6.2%, butter lost 1.1%, eggs lost 7.4%, yeast lost 2%, and milk lost 0.5%. However, the price of flour has gone up by 3.6%.

ISET’s Khachapuri Index is in line with GeoStat’s Consumer Price Index (CPI); both are following the same trend. CPI in June 2020 decreased by 1.4% relative to the previous month (May 2020) and gained 6.1% compared to last year (June 2019).

The decreasing price trend may continue for the next several months. Firstly, the supply of fresh milk is usually higher in the summer period and this might push prices down. Furthermore, the trend is strengthened by the depreciation of the Georgian lari against the US dollar; in June 2020, the GEL/USD exchange rate reached 3.04, 0.26 points higher than June 2019.

 

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  • June, 2020 | Will the Downward Trend Continue?

    In June 2020, the average cost of cooking one standard portion of Imeretian khachapuri was 3.93 GEL. Compared to the previous year (June 2019), the Khachapuri Index gained 13%. While going up in yearly terms, the Index actually dropped by 4.2% compared to the previous month (May 2020).Prices of all khachapuri ingredients except for flour decreased in June 2020 (compared to May 2020): cheese lost 6.2%, butter lost 1.1%, eggs lost 7.4%, yeast lost 2%, Read More
  • May, 2020 | The Khachapuri Index Increases by 24.9%

    The average cost of cooking one standard Imeretian Khachapuri in May 2020 stood at 4.18 GEL; 6.8% lower month-on-month compared to April. However, the Khachapuri Index did increase by 24.9% year-on-year (compared to May 2019). At this time of the year, the monthly downward trend in the Index is typically driven by a seasonal decline in cheese prices (due to the increased supply of fresh milk and a resulting lower demand for imported milk powder). Read More
  • March, 2020 | The Khachapuri Index Increases by 26.6%

    The data behind the Khachapuri Index is ordinarily collected in open bazaars. However, given the coronavirus situation and the related recommendations, our researchers can no longer visit bazaars to collect data. To overcome this challenge, around the end of March 2020 we constructed a short online survey and asked our readers to fill out a questionnaire on the prices of khachapuri ingredients observed in bazaars from various Georgian cities. The data obtained show that the Read More
  • February, 2020 | Khachapuri Index Increases by 22.9%

    The Khachapuri Index reached a new historical high in February 2020. The Index continued its upward trend, reaching an average cost of 4.35 lari in February 2020. This is 1.3% higher than in January 2020 (m/m) and 22.9% higher when compared to February 2019 (y/y). The main contributors to the Khachapuri Index’s inflation since last year were cheese (36.5%) and flour (10.7%). Furthermore, as shown in the chart, the year-on-year price of all khachapuri ingredients—milk Read More
  • January, 2020 | The Khachapuri Index for Foreign Earners

    In January 2020, the cost of cooking one standard Imeretian khachapuri continued to increase, ranging from 4.21 GEL (Kutaisi) to 4.38 GEL (Batumi), with the average cost being 4.30 GEL. The new average price is 18.3% higher than the price in January 2019. While in month-on-month development, the khachapuri price is 0.7% higher than December 2019. The yearly price increase is driven largely by the deprecation of the Georgian lari against the US dollar. The Read More
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