ISET

The average cost of cooking one standard portion of Imeretian khachapuri increased up to 3.63 GEL in September 2017. This is 5.4% higher m/m (compared to August 2017), and 6% higher y/y (compared to September 2016).

According to official statistics, compared to the same month of the previous year the Consumer Price Index (annual inflation rate) increased by 6.2%, which is very close to our estimate in yearly terms, although monthly inflation (compared to August 2017) amounted to 0.7 %, which is lower than our estimate.

In September 2017, the average cost of cooking one standard Imeretian khachapuri varied across Georgian cities, from 3.33 GEL (the minimum observed in Tbilisi), to 3.85 GEL (the maximum observed in Telavi). The average price was 3.63 GEL, which is 5.5% higher compared to the previous month (August 2017), and 6% higher compared to September of last year.

The least expensive city  Tbilisi  offers the highest savings for those “frugal housewives” who look for the cheapest ingredients for khachapuri. Thus, in Tbilisi, a frugal housewife would pay only 2.66 GEL (minimum price) for one portion of khachapuri, saving a solid 20.1% of the average price. Telavi and Batumi are less friendly to frugal housewives, offering savings of 10.1% and 10.2%, respectively. In the second largest city of Georgia – Kutaisi  prices are the highest (3.74 GEL) after Telavi, however overall it offers quite a good deal to seekers of low prices.

The average cost of cooking one standard Imeretian khachapuri reached 3.45GEL in August 2017. The price jumped up by 3.9% month-on-month (compared to July 2017), and by 9.2% year-on-year (compared to August 2016).

The Khachapuri Index increased in all large cities in Georgia compared to the prior year. The highest yearly increase of 12.8% was observed in Batumi, where the price stood at 3.60 GEL, followed by Telavi (3.52 GEL) where the annual increase was 11.6%, and Kutaisi (3.41 GEL) with an increase of 6.5%. The capital of Georgia happened to be the cheapest place to buy khachapuri (3.25 GEL), although the Tbilisi price of khachapuri increased as well (by 5.9%). The price difference between the most expensive city (Batumi) and the cheapest one (Tbilisi) was 0.35 GEL.

The average cost of cooking one standard Imeretian khachapuri in August 2017 was 3.08 GEL, 3.9% higher in a month-on-month comparison (m/m, that is, compared to the previous month) and 9.2% in a year-on-year comparison (y/y, that is, compared to the same month of last year).

The Khachapuri Index is mainly driven by the price of cheese, which is the main ingredient in khachapuri. In spite of the seasonal increase in milk supply, cheese prices are on the rise in almost all big cities of Georgia. Interestingly, the highest monthly increase (13.9%) in the price of Imeretian cheese was recorded in Batumi, the capital of the Adjara Region. Batumi is currently the most expensive place for cheese lovers. Telavi is the second expensive city after Batumi, where cheese prices increased by 13.2% on a monthly basis.

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