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June 2024 | Khachapuri Index increased by 2.9%
28 June 2024

In June 2024, the average cost of cooking one standard portion of Imeretian khachapuri stood at 6 GEL. After three months of a declining trend, the index increased by 2.9% compared to May 2024. On an annual basis, the average price is 6.8% higher than in June 2023.

In comparison to June 2023, the price rose for all the khachapuri ingredients except egg, which saw a modest fall of 1.7%. Significant increases were observed in the prices of butter (+18.1%), milk (+16.2%), yeast (+14.9%), and cheese (+7.2%), while the price of flour increased by 1.4%. The substantial rise in dairy product prices could have been driven by increased international prices as FAO Dairy Price Index rose by 6.5% an annual basis. Notably the most significant increase was observed in butter prices, which surged by 35.8%. As mentioned, the khachapuri index also increased on a monthly basis. In this case, the main contributor was the rise in cheese prices (+5.2%).

It's worth noting that the most significant increase in cheese prices was evident in Kutaisi, both on a yearly (+19%) and monthly (+17%) bases. As Imereti is the largest milk-producing region in the country, seasonal fluctuations in cheese prices are consistently more pronounced in Kutaisi than in other parts of Georgia. This suggests that the Khachapuri Index will likely continue to rise, as the increase in cheese prices in Kutaisi is expected to spread throughout Georgia.

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