19
October
2016
The CCI, which is computed by ISET-PI on a monthly basis, monitors how Georgians feel about their personal financial situations and the economic well-being of the whole country. Roughly speaking, the index is computed as the difference between the frequencies of positive and negative answers to 12 questions covering the present and expected economic situations of the households surveyed, as well as general economic parameters of the country, such as inflation and unemployment.
17
October
2016
One glance at the ₾Khachapuri Index chart (for locals) tells the whole story of Georgian agriculture. Left to fend for themselves during the cold winter months, Georgian cows produce very little milk, sending dairy prices through the roof. Conversely, milk production peaks with the arrival of sunny weather and green fodders in early spring, leading to a collapse of milk prices.
10
October
2016
The average price of cooking one Imeretian khachapuri currently stands at 3.43 GEL. Compared to the previous month (August 2016) the Khachapuri Index gained 8.6%, however in yearly terms (compared to September 2015), the Index dropped 0.8%.
03
October
2016
While gradually increasing since June, in line with its seasonal trend (driven by a gradual decline in the production of fresh milk), the Khachapuri Index remains almost 10% below its level exactly one year ago. Constructed as a weighted average of the prices of various khachapuri ingredients, the Index is particularly sensitive to changes in the price of Imeretian cheese, its most expensive ingredient. The recent spell of annual deflation in the Khachapuri Index is thus a reflection of a peculiar sagging in the price of cheese (see table).
30
September
2016
Based on the latest data, the updated annual GDP growth projection is 3.4%. It is noteworthy that the model starts to provide the most accurate annual estimate in September when seven months of data is available on core explanatory variables.
