October 2023 | Khachapuri index upward trend continues
30 October 2023

In October 2023, the cost of preparing one standard Imeretian khachapuri increased monthly and reached 6.13 GEL. The latest average price is 4.2% higher month-on-month (compared to September 2023) and 6.8% lower year-on-year (compared to October 2022).

On a monthly basis, the expenses for khachapuri rose in all major cities except Batumi. Tbilisi saw the most substantial increase (+15.1%), followed by Telavi with a notable uptick of (+4.4%), and a slight dip was recorded in Batumi (-0.3%). These variations can be attributed to the distinctive autumn period in Georgia, particularly in Kakheti, marked by the grape harvest (Rtveli). Rtveli celebrations in Kakheti commence at the end of August and extend for several weeks. The observed trend indicates a shift in the flow of local tourists from the Black Sea coast to Telavi and Tbilisi, resulting in additional demand and corresponding fluctuations in prices.

The prices for all ingredients increased, except for butter, which remained constant on average. Thus, the price of eggs showed a +5.9% increase, cheese prices increased by 4.2%, flour by 2.7%, yeast by 2.4%, and milk by 1.9%. While the prices increased on a monthly basis, the yearly prices of cheese and flour continued their significant decline by 12.4% and 4.6%, respectively.

With the decline in milk supply due to seasonality, it is anticipated that monthly prices for cheese and milk—the main ingredients of khachapuri—will further increase in the upcoming months.