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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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April 15, 2019 | Khachapuri Index for Foreign Earners
15 April 2019

In March 2019, the national average cost of cooking one standard Imeretian khachapuri fell to 3.51 GEL, which is 0.8% lower month-over-month (since February 2019), however it is also 1.1% lower year-over-year (in comparison to March 2018). The main contributors to the MoM deflation within the Khachapuri Index were cheese down by 1.9%, milk by 0.8%, and butter by 1.3%.

April 01, 2019 | Dairy Prices Keep Falling
01 April 2019

In March 2019, the average cost of cooking one standard Imeretian khachapuri declined slightly to 3.51 GEL, which is 0.8% lower MoM (compared to February 2019), and 1.1% lower YoY (compared to March 2018).

March 18, 2019 | Fewer Tourists, Cheaper Khachapuri?!
18 March 2019

The average cost of cooking one standard Imeretian Khachapuri in the second month of 2019 decreased to 3.54 GEL, 2.2% lower month-on-month (in comparison to the previous month), and 3.5% lower year-on-year (compared to the same month of last year). The Khachapuri Index is driven primarily by the price of cheese, the main ingredient in khachapuri. In February 2019, the cheese price declined in almost all large Georgian cities, relative to the same month of last year. The highest yearly price decrease (13.5%) of Imeretian cheese was recorded in the capital, Tbilisi. For Khachapuri lovers, Telavi is currently the most expensive city, with Tbilisi taking second place.

March 4, 2019 | Spring Brings Lower Prices
04 March 2019

The average cost of cooking one standard portion of Imeretian Khachapuri stood at 3.54 GEL in February 2019. This is 2.2% lower MoM (compared to January 2019), and 3.5% lower YoY (in comparison to February of 2018). The index having a downward trend at this time of the year is not unusual, and chiefly relates to the decreasing price of cheese (due to a higher supply of fresh milk).

February 18, 2019 | Wheat is Becoming More Expensive, Again!
18 February 2019

In January 2019, the cost of cooking one standard Imeretian khachapuri decreased comparatively both annual and monthly, ranging between 3.56 GEL (Tbilisi) and 3.70 GEL (Kutaisi), with an average cost of 3.62 GEL. The new average price is 2.5% lower than in January 2018. As for the month-to-month development, the price of khachapuri is 3.5% lower compared to the previous month (December 2018).

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