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Indexes

April 2025 | Khachapuri Index marks its second consecutive monthly decline
29 April 2025

In April 2025, the average cost of cooking one standard portion of Imeretian khachapuri stood at 6.62 GEL, marking a 6.1% increase compared to April 2024. However, on a monthly basis, the price fell by 4.4% compared to March 2025.

On an annual basis, prices increased for most khachapuri ingredients: cheese (+15.3%), yeast (+15.2%), milk (+4.2%), eggs (+2.4%), and butter (+2.1%). Flour was the only exception, with its price dropping by 9.5% year-over-year. This decline reflects trends in international wheat markets, where prices had been steadily decreasing until late 2024, briefly rose in January 2025, peaked in February, and have been falling again since. Despite these short-term fluctuations, the overall trend suggests that wheat prices this year remain significantly lower than during the same period last year. These global dynamics are expected to influence Georgia in the coming months, as international price changes typically take time to pass through to local markets.

The monthly decline in the Khachapuri Index was mainly driven by butter (-9%), cheese (-3.8%), and flour (-3.4%). This reflects typical seasonal patterns, as fresh milk production begins to rise in spring and peaks in early summer. Additionally, the onset of Great Lent on March 3 likely contributed to reduced demand—and thus lower prices—for cheese and other dairy products during the fasting period.

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