Indexes
April 2021 | Khachapuri index increases by 6%
30
April
2021
The average cost of cooking one standard Imeretian khachapuri in April 2021 was 4.65 GEL. The Index gained 1% compared to the previous month (March 2021). Usually, at this time of year, seasonal declining trend is expected, which is largely driven by a springtime adjustment of the price of milk and milk products. However, the depreciation of the Georgian lari against the US dollar still has an upward pressure on the price of imported khachapuri ingredients. In April 2021, the GEL/USD exchange rate reached 3.43, 3% higher than in March 2021. As a result, the increased supply of milk could not outweigh the impact of the domestic currency’s depreciation and more expensive imports.
In annual terms (compared to April 2020), the Index increased by 6%. The reason behind this might well be the Easter Holiday. This year, Easter was celebrated in the first week of May in Georgia. There is typically greater demand for cheese and milk products during the week prior to Easter. Thus, this increased demand during the prior week directly affects the price of cheese, the main contributor to inflation in the Khachapuri Index.
Taking a more detailed look at prices, all ingredients contributed to the YoY inflation in April: cheese (+9.6%), butter (+13.7%), flour (+15.9%), eggs (+2.4%), yeast (+15.5%), and milk (+7.3%). As the chart reveals, the price increases are particularly high for internationally traded commodities (flour) and imported intermediate inputs (butter and milk).
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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).
