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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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February 16, 2015 Kh-Index | Decline of fuel prices brings price of cheese down by 13.8%
16 February 2015

The only one contributor to y/y deflation was the main component of the Khachapuri recipe - cheese (-13.8%) (see graph), while the prices of other components showed have increased: flour (+16.6%), milk (+5.4%), yeast (+7.6%), butter (+11.3%), and eggs (+1.3%).
February 02, 2015 Kh-Index | Consumer worries and weak demand bring the khachapuri index down
02 February 2015

The average cost of cooking one standard Imeretian Khachapuri in the first month of 2015 dropped to 3.40 GEL, which is 7.4% lower month-on-month (m/m, that is compared to the previous month), and 5% year-on-year (y/y, that is compared to the same month of last year).
January 16, 2015 Kh-Index | Khachapuri index shows increase in prices in the last months of 2014
16 January 2015

The average cost of cooking one standard Imeretian Khachapuri reached 3.68 GEL in December 2014. The price jumped up by 9.5 % month-on-month (compared to November 2014) and by 2.4% year-on-year (compared to December 2013).
January 12, 2015 Kh-Index | CPI and khachapuri index inflation pick up in December 2014
12 January 2015

In December 2014, Khachapuri Index returned to its upward seasonal trend and reached 3.66GEL. This is 9.4% higher compared to the previous month (November 2014) and 2.4% higher compared to December 2013 (y/y). The main contributors to y/y Khachapuri Index inflation were flour (16.4%), milk (7.2%), yeast (5.1%), butter (3.2%), and cheese (0.7%), while the price of eggs dropped (-6.4%).
November 24, 2014 Kh-Index | A seasonality puzzle
24 November 2014

The average cost of cooking one standard Imeretian Khachapuri in October 2014 was 3.35 GEL, 0.1% lower both in month-on-month comparison (m/m, that is compared to the previous month) and year-on-year comparison (y/y, that is compared to the same month of last year).
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