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Tatia Khidasheli
Salome Gelashvili

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Khachapuri Index
Inspired by the Big Mac Index of the Economist magazine, the ISET Khachapuri index tracks inflation by using the most popular Georgian food, the Khachapuri. As opposed to other inflation indices relying on a complex basket of consumer goods the ISET Khachapuri index uses a basket for calculating inf
lation that includes only those ingredients that are needed to cook one Imeretian khachapuri – flour, cheese, yeast, milk, eggs, and butter. It also includes energy costs – gas and electricity.
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September 14, 2015 Kh-Index | Khachapuri and consumer price indices show inflation picking up in august
14 September 2015

In August, the average cost of cooking one standard Imeretian khachapuri jumped to 3.49 GEL, which is 11.4% higher month-on-month (m/m, that is compared to July 2015), and 7% higher year-on-year (y/y, that is compared to August 2014).
September 07, 2015 Kh-Index | Seasonal trends and tourism push khachapuri index upward in august
07 September 2015

In August 2015, the average cost of cooking one standard Imeretian Khachapuri reached 3.49GEL, which is 11.4% higher month-on-month (compared to July 2015), and 7% higher year-on-year (compared to August 2014). Two factors combined in August to push the Khachapuri index upwards. On the one hand, the Index is up due to a seasonal decline in the supply of cheese – the main (and most expensive) khachapuri ingredient.
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).
June 01, 2015 Kh-Index | Khachapuri index about to bottom out
01 June 2015

June is the time of the year when the Khachapuri Index reaches the lowest point in its annual cycle. The supply of fresh milk a key input in the production of Imeretian cheese reaches its seasonal peak a few months earlier, in March and April. The prices of cheese, while declining in a continuous fashion from January onward, bottom out with a lag of two-three months, by June or July.
May 25, 2015 Kh-Index | Georgia imports inflation
25 May 2015

The average cost of cooking one standard Imeretian Khachapuri in May 2015 stood at 2.88 GEL, which is 2.7% lower month-on-month (i.e. compared to April 2015). The Khachapuri Index is actually up by 1% year-on-year (compared to May 2014), suggesting a slight uptick in annual inflation, at least as far khachapuri ingredients are concerned.
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