December 3, 2018 | Seasonal increase in dairy prices
03 December 2018

The average cost of cooking one standard portion of Imeretian Khachapuri stood at 3.62 GEL in November 2018. This is 0.8% higher month-on-month (compared to October 2018), and 2.2% lower year-on-year (compared to the previous November 2017).

As the chart shows, the main contributors to the Khachapuri Index monthly inflation were milk (up by 1.5%), cheese (up by 1.3%), and butter (up by 0.6%). All other ingredients decreased in price: yeast (down by 0.5%), flour (down by 0.5%), and eggs (down by 0.2%).

Understandably, the positive monthly change in the Khachapuri Index follows a traditional seasonal trend in fresh milk production. In the winter, there is a lack of fresh milk on the market, which pushes prices up. In December, this trend might continue, however, this effect will be somewhat neutralized by lower demand throughout the fasting period, which started at the end of November.