The average cost of cooking one standard Imeretian Khachapuri in November 2016 stood at 3.46 GEL, which is 1.9% higher month-on-month (compared to October 2016). The Khachapuri Index is down up by 5.6% year-on-year (compared to November 2015), suggesting annual deflation as measured by the index.

According to the Khachapuri Index, year-on-year, we have observed a sharp increase (up by 9.1% compared to October 2015) in the price of butter. Typically, the price of butter should follow the price of milk, since the latter is the major ingredient of butter. Interestingly, however, the data collected for Khachapuri Index does not support this trend. Our data showed a 1.1% year-on-year decrease in the price of milk.

After a couple of declines, food prices in the largest supermarkets in Georgia have increased. In the first two weeks of November, an upward trend was maintained: Retail FPI was 2% higher compared to the same period of October. An increase in FPI was driven by an increase in the price of fruits and vegetables. On an annual basis, we still record a significant overall 9.5% decline (November 2016 VS November 2015).

In October 2016, the average cost of cooking one standard portion of Imeretian Khachapuri was 3.39 GEL, which is 6.1% lower year-on-year (compared to the same month of the previous year, October 2015).

In October 2016, the average cost of cooking one standard portion of Imeretian Khachapuri was 3.39 GEL, which is 1% lower month-on-month (compared to September 2016), and 6.1% lower year-on-year (compared to the same month of the previous year, October 2015).