In March 2016, the average cost of cooking one standard Imeretian Khachapuri stood at 3.27GEL, which is 5% lower month-on-month (m/m, that is compared to the previous month), but 6.9% higher year-on-year (y/y, that is compared to the same month of last year).

This week, ISET’s Khachapuri Index team checked whether average hourly wages in different Georgian locations cover the cost of one standard portion of Imeretian khachapuri. Using the cost of khachapuri ingredients in four major Georgian cities (Tbilisi, Telavi, Kutaisi, and Batumi) and the latest available data for average monthly wages in the corresponding regions, we calculated that one hour of work would not always suffice to treat you to a portion of delicious Imeretian khachapuri.

Georgia’s Insolvency law of 2007 is primarily oriented towards a rapid liquidation of insolvent corporate entities and private entrepreneurs’ businesses with subsequent distribution of remaining assets amongst the creditors. The number of insolvency cases dealt with by the local courts of Tbilisi and Kutaisi is fairly limited most probably due to insufficient assets in the insolvent entities to cover the costs of the insolvency procedure.

Based on February data from three open bazaars in Tbilisi, the average cost of cooking one standard portion of Imeretian khachapuri stood at GEL3.47. Someone opting for the convenience of shopping in one of Tbilisi’s major supermarket chains, such as Carrefour, Fresco, Spar, or Goodwill, paid 4.40GEL (representing a premium of about 28%) for cooking exactly the same khachapuri.

In February 2016, the average cost of cooking one standard Imeretian khachapuri declined to 3.44 GEL, which is 4.3% lower month-on-month (that is compared to January 2016), and 4.7% higher year-on-year (compared to February 2015).