The average cost of cooking one standard portion of Imeretian Khachapuri stood at 3.62 GEL in November 2018. This is 0.8% higher month-on-month (compared to October 2018), and 2.2% lower year-on-year (compared to the previous November, 2017).

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).

By the end of June, food prices have increased by 8.1% y/y (that is, compared to June 2016) and decreased by 0.6% m/m (that is, compared to May 2017). During the last two weeks of the month, the biggest price increases were for milk (3.2%), cheese (2.4%) and garlic (1.9%). Eggplant, tomatoes and peaches, on the contrary, became cheaper by 26.2%, 24.1% and 17.3%, respectively.

One glance at the ₾Khachapuri Index chart (for locals) tells the whole story of Georgian agriculture. Left to fend for themselves during the cold winter months, Georgian cows produce very little milk, sending dairy prices through the roof. Conversely, milk production peaks with the arrival of sunny weather and green fodders in early spring, leading to a collapse of milk prices.

Spring is already here. Seeing more sunshine and rains, Georgia’s western provinces are enjoying the sharpest seasonal increases in the supply of fresh milk and dairy products, such as Imeretian cheese. This cheese is the main (and most expensive) component of the Georgian khachapuri, driving the sharp seasonal fluctuations of the Khachapuri Index.