ISET’s Khachapuri Index continued an increasing trend in October 2018, which is very much in line with the annual seasonal trend. The average cost of cooking one standard Imeretian khachapuri currently stands at 3.59 GEL, which is 1.1% higher month-on-month (compared to September 2018), and 1.2% lower year-on-year (compared to October 2017).
The average cost of cooking one standard Imeretian khachapuri in September 2018 was 3.56 GEL, which was 3.7% higher month-on-month (m/m, as compared to the previous month), and 2.1% lower year-on-year (y/y, as compared to the same month last year). However, khachapuri became cheaper for those earning in foreign currency as a result of the y/y depreciation of the lari relative to both the USD and EUR in September 2018.
In September 2018, the Khachapuri Index showed an upward seasonal trend, reaching 3.56 GEL. This is a 3.7% increase over the previous month (August 2018) but is 2.1% lower compared to September 2017 (y/y). Such an increase in prices at this time of year is not unique to the Khachapuri Index.
In August 2018, the average cost of cooking one standard Imeretian khachapuri increased to 3.43 GEL, which is 3.8 % higher month-on-month (m/m, that is, compared to July 2018), but 0.5% lower year-on-year (y/y, compared to August 2017).
The average cost of cooking one standard Imeretian Khachapuri in June 2018 stood at 3.15 GEL, which is 0.7% lower month-on-month (compared to the previous month), and 2% higher year-on-year (compared to the same month of last year).