Indexes
June 08, 2015 Kh-Index | Inflation on the rise?
08
June
2015
In June of 2015, the average cost of cooking one standard Imeretian Khachapuri fell to 2.85GEL, which is 1% lower month-on-month (compared to May 2015), and 0.8% higher year-on-year (compared to June 2014).
The main contributors to y/y Khachapuri Index deflation were cheese (down by 7%) and flour (down by 1.6%). All other ingredients increase in price: eggs (21.6%), yeast (15.3%), milk (10.7%), and butter (7.3%).
At the same time, annual inflation, as measured by the official Consumer Price Index (CPI), clocked 4.5% in June 2015 - the highest level since the start of GEL depreciation. Even more alarmingly, the prices of food, which account for around 40% of the official consumer basket, increased by 5.7%. The biggest gains were in fruit and grapes (35%), oil and fats (9.8%), coffee, tea, and cocoa (7.9%), and vegetables (5.4%).
Georgia is importing more than half of its food consumption, and depreciation may have affected the prices of imported commodities. However, the 35% increase in fruit and grape prices most of which are locally produced is harder to explain.
The Khachapuri Index is highly correlated with the Food CPI (see chart), yet, being dominated by locally produced Imeretian cheese, it is not as sensitive to changes in the price of imported commodities.
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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).
