- Macroeconomic Policy
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In June 2021, the average price of cooking one Imeretian khachapuri stood at 4.28 GEL. Compared to the previous month (May 2021) the Khachapuri Index lost 1.1%. In annual terms (compared to June 2020), however, the index added 8.8%.
The average cost of cooking one standard Imeretian khachapuri currently stands at 4.33 GEL, which is 6.9% lower month-on-month (compared to April 2021), and 5.6% higher year-on-year (compared to May 2020). The main contributor to the price change is a seasonal decrease in the price of cheese, which fell by -13.1%, compared to the previous month (April 2021).
The average cost of cooking one standard Imeretian khachapuri in April 2021 was 4.65 GEL. The Index gained 1% compared to the previous month (March 2021). Usually, at this time of year, seasonal declining trend is expected, which is largely driven by a springtime adjustment of the price of milk and milk products.
The Khachapuri Index kept declining in March 2021, with the average cost of cooking one standard Imeretian khachapuri reaching 4.61 GEL. This is 1.7% lower month-on-month (compared to February 2021), and 3.4% higher year-on-year (compared to March 2020).
In February 2021, the average cost of cooking one standard portion of Imeretian khachapuri stood at 4.69 GEL. This is 3.1% lower MoM (compared to January 2021) and 7.8% higher YoY (in comparison to February of 2020). On a monthly basis, at this time of the year, a downward trend in the index is not unusual, and simply relates to the decreasing price of cheese (due to an increased seasonal supply of fresh milk). Although prices fell on a monthly basis, the price of every khachapuri ingredient increased in annual terms between February 2020 and February 2021: cheese went up by 9.5%, flour by 18.8%, eggs 7.0%, yeast 16.3%, milk by 6.9%, and butter increased by 14.6%.