In May 2018, the average price of cooking one Imeretian khachapuri stood at 3.17 GEL. Compared to the previous month (April 2018) the Khachapuri Index lost 3.6%. In annual terms (compared to May 2017), however, the Index added 0.9%.

The average cost of cooking one standard Imeretian Khachapuri in May 2018 stood at 3.17 GEL, which is 3.4% lower month-on-month (i.e. compared to April 2018). The Khachapuri Index is actually up by 1.1% year-on-year (compared to May 2017), suggesting a slight uptick in annual inflation. The supply of fresh milk is approaching its seasonal peak, and this peak might be earlier than usual this year because of the early spring.

The average cost of cooking one standard Imeretian khachapuri in April 2018 across Georgian cities varied, from 2.90 GEL (the lowest price, observed in Kutaisi), to 3.60 GEL (the highest price, observed in Tbilisi). The price difference between Kutaisi and Tbilisi amounted 0.70 GEL, which is one of the highest differentials we have ever observed between these cities.

The Khachapuri Index kept declining in April, 2018, very much in line with the seasonal trend we observe every year. The average cost of cooking one standard Imeretian khachapuri currently stands at 3.28 GEL, which is 7.4% lower month-on-month (that is, compared to March 2018), and 1% lower year-on-year (that is, compared to April 2017).

The Khachapuri Index is one of the most popular Indexes in Georgia. ISET uses the Khachapuri Index as a simple tool that tracks inflation. The creation of the Khachapuri Index was inspired by the Big Mac Index, made and used by the Economist. ISET’s Khachapuri index uses a basket for calculating inflation that includes only those ingredients that are needed to cook one Imeretian khachapuri – flour, cheese, yeast, milk, eggs, and butter.