ISET-PI likes to keep tradition and cook up a New Year’s Supra Index for our readers. The Index shows the cost of a standard festive supra meal for a family of five to six people in each region of Georgia. Traditional dishes included in our calculations are: mtsvadi, satsivi (chicken in walnut sauce), khachapuri, trout, tabaka (fried) chicken, olivie salad, pkhali, cucumber&tomato salad, and for desert, fruit and gozinaki (caramelized walnuts fried in honey).

The average cost of this New Year’s supra in Georgia is 161.60GEL in December 2017, which is 8.1% higher compared to same period last year (December 2016).

The Khachapuri Index continued its upward trend in November 2017, with the average cost of cooking one standard Imeretian Khachapuri reaching 3.70 GEL. This is 1.8% higher month-on-month (compared to October 2017), and 7.1% higher year-on-year (compared to November 2016). In general, the increasing trend at this time of the year is driven by the seasonal decline in the supply of fresh milk, and excess demand before the start of the fasting period. This leads to a corresponding increase in cheese and other milk product prices.

The average cost of cooking one standard Imeretian khachapuri in October 2017 was 3.64 GEL, which is 0.2% higher month-on-month (compared to the previous month), and 7.2% higher year-on-year (compared to the same month of the previous year).

However, for those people whose salaries are denominated in EUR, khachapuri became much cheaper due to the significant depreciation of lari against the euro. In October 2016, one EUR could be exchanged for 2.60 GEL, whereas one year later, in October 2017, one EUR was worth 3.01 GEL (up by 16%), which means that last year one would need 1.3 EUR to buy one khachapuri, while today, 1.2 EUR is sufficient. As for USD earners, khachapuri became slightly more expensive for them, because the cost of cooking khachapuri increased by more than the national currency depreciated against USD.

The cost of cooking one standard Imeretian khachapuri in October 2017 varied from 3.04 GEL to 4.18 GEL. The average price was 3.64 GEL, which is just slightly (0.1 %) lower than the previous month (September 2017). In annual terms (compared to October 2016), the Khachapuri Index showed quite a significant increase of 7.2%.

According to the Khachapuri Index, Telavi was the most expensive city in October 2017, whereas Kutaisi, where Khachapuri cost 3.58 GEL, was the cheapest one. In Tbilisi and Batumi, khachapuri cost 3.65 GEL and 3.64 GEL, respectively.

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