Indexes
October 2020 | Why the khachapuri index keeps increasing?
30
October
2020
In October 2020, the Khachapuri Index continued its upward trend and reached 4.37 GEL. This figure is 2.9% higher than the previous month (September 2020) and 12.5% higher than October 2019 (YoY). Every ingredient contributed to the YoY Khachapuri Index inflation: cheese (19.0%), flour (16.3%), butter (12.4%), yeast (16.4%), milk (2.8%), and eggs (0.3%).
As the chart reveals, the price increases are particularly high for internationally traded commodities (butter and yeast) and those that use imported intermediate inputs in production (flour and milk).
The GEL continued to depreciate relative to the USD: with the average GEL/USD exchange rate in October 2020 being 3.22 (2.97 in October 2019). Thus, depreciation of the Georgian lari has placed notable upward pressure on the price of imported goods; with depreciation against the US dollar in excess of 8% in October 2020 compared to October 2019.
In addition, at this time of the year there is a seasonal decline in the supply of fresh milk, resulting in higher demand for imported milk powder. The value of milk powder exports in Quarter II increased by 76% compared to the same period last year (from 4.1 mln. USD in 2019 to 7.3 mln. in 2020). Compared to Quarter II 2019, the unit value of milk powder also went up by 15% in Quarter II 2020. This factor, of course, also contributed to higher dairy product prices.
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April 2024 | Khachapuri Index marks its second consecutive monthly decline
30
April
2024
In April 2024, the average cost of cooking one standard portion of Imeretian khachapuri stood at 6.24 GEL, marking a 4.0% increase from April 2023. However, on a month-to-month basis, the price of a single khachapuri decreased by -2.4% compared to March 2024.
March 2024 | Beginning of seasonal drop in Khachapuri Index
01
April
2024
In March 2024, the average cost of cooking one standard portion of Imeretian khachapuri stood at 6.40GEL. This latest average price marks a -1.8% decrease compared to March 2023. Additionally, in month-to-month developments, the price of khachapuri decreased by -6.4% compared to the previous month (February 2024).
February 2024 | The Khachapuri Index increases by 3.3%
04
March
2024
In February 2024, the average cost of cooking one standard portion of Imeretian khachapuri stood at 6.83 GEL, marking a 3.3% increase compared to the previous month. However, in a year-to-year comparison, the price of khachapuri decreased by 1.5% compared to February 2023.
January 2024 | Khachapuri Index continues its upward trend
29
January
2024
In January 2024, the average monthly cost of preparing one standard portion of Imeretian khachapuri increased, ranging between 6.40 GEL (Batumi) and 7.11 GEL (Tbilisi), with an overall average cost of 6.62 GEL. This recent average indicates a 2% increase compared to the preceding month of December 2023. While examining year-to-year trends, the current price of khachapuri is 4.6% lower than in January 2023.
December 2023 | The Khachapuri Index over the decade
28
December
2023
In December 2023, the average cost of preparing one standard Imeretian khachapuri experienced a slight increase, reaching 6.48 GEL. This signifies a 0.2% rise compared to November 2023 and a noteworthy -7.3% decrease compared to December 2022.
