Indexes
January 2021 | Prices keep raising
29
January
2021
In January 2021, the average price of cooking one Imeretian khachapuri stood at 4.84 GEL. Compared to the previous month (December 2020) the Khachapuri Index lost 3.5%. In annual terms (compared to January 2020), however, the index added 12.6%.
As shown in the chart, all khachapuri ingredients except eggs contributed to the yearly inflation of the Khachapuri Index. The price of only one ingredient – eggs – decreased by 1.9% compared to the previous year (January 2020). All other ingredients increased in price: flour (19.3%), cheese (18.3%), yeast (14.5%), butter (12.8%) and milk (7.2%).
In general, an increase at this time of year is driven by a seasonal shortage in the supply of fresh milk for which imported milk powder is substituted. This leads to corresponding increases in cheese and other milk products’ prices. This annual price increase is driven largely by the depreciation of the Georgian lari against the US dollar. Prices went up YoY for all imported goods, and for those that use imported intermediary inputs in production.
If we look at the more comprehensive basket of goods and services used for the official Consumer Price Index (CPI), Geostat’s food price inflation estimates are quite in line with our estimates: prices are up in annual terms by 6.4%.
Recent Publications
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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).
