On the 25th of May, ISET was pleased to host the environmental economist and founder of the consultancy company GIST Advisory, Pavan Sukhdev, for a presentation. Starting his career as a physicist, Mr. Sukhdev got interested in the challenges of environmental protection. This led him to investigate economics, particularly aiming at understanding the significance of businesses as a driver of the changes that we see around us as well as third-party impacts, which are known as externalities in economics.

In April 2017, the average cost of cooking one standard Imeretian khachapuri decreased to 3.32 GEL, which is 2.5% lower month-on-month (m/m, that is, compared to March 2017), but 4.9% higher year-on-year (y/y, compared to April 2016).

ISET’s Khachapuri Index kept declining in April, which is in line with seasonal trends. The average cost of cooking one standard Imeretian khachapuri currently stands at 3.32 GEL, which is 2.5% lower month-on-month (compared to March 2017), and 4.9% above year-on-year (compared to April 2016).

By the end of March, food prices increased by 4.4% y/y (that is, compared to March 2016) and by 1.6% m/m (that is, compared to February 2017). On a biweekly basis, the biggest price increases happened for coriander (40.3%), cucumber (30.0%), and eggplant (14.9%). Carrots, onions, and tomatoes, on the contrary, became cheaper and cost 22.1%, 24.4%, and 15.0% less, respectively.

In March 2017, the average cost of cooking one standard Imeretian khachapuri dropped to 3.41GEL, which is 6.9% lower month-on-month (compared to February 2017), and 4.1% higher year-on-year (compared to March 2016).