Indexes
October 12, 2015 Kh-Index | Khachapuri index expanded to cover all georgian regions
12
October
2015
This week we use the Khachapuri Index to look at Georgia’s broader economic geography. We do so on the basis of price data for more than 100 products from each and every Georgian municipality, which were collected by the Georgian government with assistance from ISET and EU’s European Neighborhood Program for Agriculture and Rural Development (ENPARD).
We used this data for September to “cook” one standard portion of Imeretian Khachapuri for Georgia’s main regions. The map we produced shows how the Khachapuri Index increases from east to west. In Georgia’s eastern provinces the Index ranges from 2.88 GEL (in Samtskhe-Javakheti) to 3.14 GEL (in Mtskheta-Mtianeti). In the west, the Index only starts at 3.24 GEL (Imereti); it achieves its highest value in Adjara (3.61 GEL), marking an extension of a successful tourism season.
The largest and most expensive component in the Khachapuri Index basket is Imeretian cheese. Thus, the Index reflects local demand/supply conditions concerning this uniquely Georgian product.
Interestingly, while finding each other far apart on the Khachapuri Index map, Samtskhe-Javakheti and Adjara are situated right next to each other. The more than 25% gap in prices appears to create great arbitrage opportunities, yet, these would not be easy to realize: the two regions are in fact separated by the 2025m Goderdzi pass and difficult mountain roads, which prevent Samtskhe-Javakheti from enjoying the benefits of tourism development in Adjara.
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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).
