The cost of cooking one standard Imeretian khachapuri in October 2017 varied from 3.04 GEL to 4.18 GEL. The average price was 3.64 GEL, which is just slightly (0.1 %) lower than the previous month (September 2017). In annual terms (compared to October 2016), the Khachapuri Index showed quite a significant increase of 7.2%.

In the first half of November, ISET’s Retail Food Price Index increased by 9.2% y/y (compared to November 2016). On a monthly basis (compared to October 2017), retail food prices slightly increased, by 1.2%. The largest bi-weekly price changes were recorded for fruits and vegetables.

On November 9, Daniel Levy, a professor of economics at Bar Ilan University, Emory University and a member of ISET’s International Faculty Committee, presented his paper ‘The real thing’: nominal price rigidity of the nickel Coke, 1886-1959“ (co-authored by his colleague Andrew Young) to ISET professors, students, and researchers.

The average cost of cooking one standard portion of Imeretian khachapuri increased up to 3.63 GEL in September 2017. This is 5.4% higher m/m (compared to August 2017), and 6% higher y/y (compared to September 2016).

At the end of October, food prices maintained an upward trend; ISET’s Retail FPI gained 2.6% m/m (compared to the last week of September). On an annual basis (compared to October 2016), we recorded a significant 11.3% increase in food prices. According to data from the last two weeks of October, the biggest increase in price was recorded for tomatoes (99%), for which the price almost doubled due to seasonality.