April 24, 2015 Kh-Index | Khachapuri index for foreign currency earners
24 April 2015

The average cost of cooking one standard Imeretian Khachapuri in March 2014 was 3.06 GEL, which is 7% lower month-on-month (m/m, that is compared to the previous month), and 3.1 year-on-year (y/y, that is compared to the same month of last year). For foreign currency earners, Khachapuri became even cheaper due to the depreciation of Georgian currency against USD and Euro.

GEL depreciated relative to the USD: the average GEL/USD exchange rate in March 2015 was 2.19, which is 0.10 points higher m/m and 0.35 points higher y/y. As a result, when expressed in USD, Khachapuri Index lost -11.4% m/m and -23% y/y.

GEL depreciated relative to EUR as well, with the average GEL/EUR exchange rate in March reaching 2.38 which is 0.01 points higher m/m. and 0.03 lower y/y. For those earning their income in EUR, Khachapuri price lost -7.2% compared to the previous month and -1.9% compared to the same month of last year.