ISET

In January 2017, the Khachapuri Index continued its upward seasonal trend, and the new average price of cooking one standard Imeretian khachapuri reached 3.67 GEL. The average price is 1.9% higher than the price was in January 2016. As for month-to-month developments, the price of khachapuri is 1.3% higher compared to the previous month (December 2016). The cost of cooking khachapuri is different across Georgian cities and ranges from 3.56 GEL (Batumi and Tbilisi) to 3.92 GEL (Kutaisi).

The main contributors to year-over-year Khachapuri Index inflation were cheese (by 5.4%), butter (by 3%), and yeast (by 4.1%). Prices of other ingredients decreased: eggs (by 6%), flour (by 5.6%), and milk (by 0.1%).

In January, the cost of cooking one standard Imeretian khachapuri continued to increase, ranging from 3.56 GEL (Batumi and Tbilisi) to 3.92 GEL (Kutaisi), with the average cost being 3.67 GEL. The new average price is 1.9% higher than the price in January 2016. As for month-to-month development, the price of khachapuri is 1.3% higher compared to the previous month (December 2016).

In January, the cost of cooking one standard Imeretian khachapuri continued to increase, ranging between 3.56 GEL (Batumi and Tbilisi) and 3.92 GEL (Kutaisi), with the average cost being 3.67 GEL. The new average price is 1.9% higher than the price in January 2016. As for month-to-month development, the price of khachapuri is 1.3% higher compared to the previous month (December 2016).

Cheese is the main and most expensive component of Georgian khachapuri, driving the sharp seasonal fluctuations of the Khachapuri Index. The price of cheese shot up sharply in January 2017, after dropping (in annual comparison) from July 2016 (6 month). In previous publications, we discussed some possible reasons behind the cheese price decrease in yearly terms. One of those reasons is the increased amount of imported milk powder being utilized, which kept cheese prices below last year’s levels.

The average cost of cooking one standard Imeretian khachapuri in January 2017 across Georgian cities varied from 3.56 GEL (prices observed in Tbilisi and Telavi were exactly the same) to 3.92 GEL (observed in Kutaisi). The overall average price was 3.67 GEL, which is 1.3% higher compared to the previous month (December 2016), and 1.9% higher compared to same month last year (January 2016). The change in yearly terms was driven by small increases in three ingredients: cheese prices went up by 5.4%, followed by yeast (4.1%), and butter (3%).

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