June 2021 | Khachapuri index increases by 8.8%
30 June 2021

In June 2021, the average price of cooking one Imeretian khachapuri stood at 4.28 GEL. Compared to the previous month (May 2021) the Khachapuri Index lost 1.1%. In annual terms (compared to June 2020), however, the index added 8.8%.

The monthly (negative) change in the Index follows the traditional seasonal trend in fresh milk production, which peaks in June and July. In June 2021 price of cheese has decreased by 2.5% compared to the previous month (May 2021). However, all other khachapuri ingredients went up in price compared to last month: eggs (2.9%), milk (1.8%), butter (1.4%), and flour (0.7%).

The annual inflation, as measured by ISET’s Khachapuri Index, is in line with the GeoStat’s Consumer Price Index (CPI); both are following the same trend. CPI in June 2021 increased by 9.9% relative to June last year (y/y).

The main contributor of CPI inflation was price increase in the food and non-alcoholic beverages category, which increased by 8.8%(y/y). Prices went up for the following groups: oils and fats (47.1 percent), vegetables (16.6 percent), sugar, jam, honey, chocolate and confectionery (13.7 percent), fish (11.1 percent), milk, cheese and eggs (10.6 percent), mineral waters, soft drinks, fruit and vegetable juices (7.3 percent), coffee, tea and cocoa (7.2 percent), bread and cereals (5.5 percent), meat (5.3 percent). Prices went down for fruit and grapes (-19.5 percent).
It is expected that in following month, prices will fall down as the supply of fresh milk will possibly go up.