September 2023 | The Khachapuri index reverses its downward trend over the summer
28 September 2023

In September 2023, the average price for preparing a standard portion of Imeretian khachapuri was 5.88 GEL. Since June 2023, there has been an upward trend in the khachapuri index, with the price of khachapuri increasing by 4.7% compared to June 2023. This increase is mainly explained by a 10.6% rise in the price of cheese during the four-month period (June-September 2023). Typically, as autumn approaches, dairy product prices tend to increase due to the need for animal feed supplements.

While there is a seasonal increase in dairy prices and the khachapuri index, on an annual basis, the average price of khachapuri is 8.3% lower than in September 2022. A closer examination of price dynamics reveals that prices of cheese and flour significantly declined by 13.8% and 4.6%, respectively, compared to September 2022. While last summer's droughts had driven up the cost of cheese and dairy products in Georgia, the recent relatively favorable weather conditions have contributed to a stabilization in prices. Additionally, the price of wheat has shown a decline compared to its peak in 2022. While the prices of the two main ingredients declined, all other ingredients experienced year-on-year inflation: milk (+3.8%), yeast (+10.9%), butter (+9.9%), and eggs (+4.1%). 

Considering average prices, Batumi is currently the most expensive market for khachapuri ingredients. The cost of cooking one standard Imeretian khachapuri stands at 6.26 GEL there, which is 7% higher than the national average. Meanwhile, a single khachapuri costs 5.66 GEL in Tbilisi, making it the most affordable location. The 0.6 GEL difference in cost between the most expensive (Batumi) and the cheapest (Tbilisi) cities can be explained by the tourism season, as Tbilisi is less attractive to tourists in the first half of September compared to Batumi.