Khachapuri Index
Inspired by the Big Mac Index of the Economist magazine, the ISET Khachapuri index tracks inflation by using the most popular Georgian food, the Khachapuri. As opposed to other inflation indices relying on a complex basket of consumer goods the ISET Khachapuri index uses a basket for calculating inf
lation that includes only those ingredients that are needed to cook one Imeretian khachapuri – flour, cheese, yeast, milk, eggs, and butter. It also includes energy costs – gas and electricity.
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December 2023 | The Khachapuri Index over the decade
28 December 2023

In December 2023, the average cost of preparing one standard Imeretian khachapuri experienced a slight increase, reaching 6.48 GEL. This signifies a 0.2% rise compared to November 2023 and a noteworthy -7.3% decrease compared to December 2022.

November 2023 | Khachapuri Index increased by 5.5%
27 November 2023

In November 2023, the average cost of preparing a standard portion of Imeretian Khachapuri continued its upward climb, reaching 6.47 GEL. This represents a 5.5% increase from the previous month (October 2023) and a 6.9% decrease compared to the same period last year (November 2022).

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).

September 2023 | The Khachapuri index reverses its downward trend over the summer
28 September 2023

In September 2023, the average price for preparing a standard portion of Imeretian khachapuri was 5.88 GEL. Since June 2023, there has been an upward trend in the khachapuri index, with the price of khachapuri increasing by 4.7% compared to June 2023. This increase is mainly explained by a 10.6% rise in the price of cheese during the four-month period (June-September 2023).

June 2023 | Khachapuri index declines further
30 June 2023

In June 2023, the average cost of cooking one standard portion of Imeretian khachapuri stood at 5.62 GEL. It is now the fourth consecutive month that the Index has maintained a declining trend, where the price of khachapuri fell by 2.4% (compared to May 2023).