Indexes
April 15, 2019 | Khachapuri index for foreign earners
15
April
2019
In March 2019, the national average cost of cooking one standard Imeretian khachapuri fell to 3.51 GEL, which is 0.8% lower month-over-month (since February 2019), however, it is also 1.1% lower year-over-year (in comparison to March 2018). The main contributors to the MoM deflation within the Khachapuri Index were cheese down by 1.9%, milk by 0.8%, and butter by 1.3%.
For those earning foreign currency, Khachapuri Index prices appear cheaper due to GEL depreciation (MoM and YoY), relative to the USD and EUR over the last month. In March 2019, the GEL/USD exchange rate reached 2.68, 0.24 points higher than the previous year (March 2018). Therefore, the Khachapuri Index lost value in terms of USD, losing 1.9% MoM and 10.0% YoY. The situation appears similar for the monthly price fluctuations expressed in Euro, where the cost of khachapuri, is down by 1.6% MoM and 1.9% YoY.
Consequently, for foreign currencies, this declining trend is further boosted by the seasonal reduction in the price of cheese (the main ingredient) at this time of year, thus making khachapuri cheaper still.
Recent Publications
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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.
November 2023 | Khachapuri Index increased by 5.5%
27
November
2023
In November 2023, the average cost of preparing a standard portion of Imeretian Khachapuri continued its upward climb, reaching 6.47 GEL. This represents a 5.5% increase from the previous month (October 2023) and a 6.9% decrease compared to the same period last year (November 2022).
