30
November
2020
The average cost of cooking one standard portion of Imeretian khachapuri stood at 4.62 GEL in November 2020. This is 4.5% higher MoM (compared to October 2020), and 12% higher YoY (in comparison to November of 2019). The index maintaining an upward trend at this time of the year is typical and relates to the increasing price of cheese (due to the reduced supply of fresh milk).
24
November
2020
The recovery of the Consumer Confidence Index, observed from May to July, has been losing steam in September and the November survey confirms that consumer confidence is struggling to go back to prior pandemic levels.
23
November
2020
The CCI has been picking up slightly in October, suggesting that the trend observed since May could be resuming after the dip of last month. It is a bit too early to draw a firm conclusion though, as the CCI remains below the values observed four years ago.
19
November
2020
Geostat has updated its GDP growth estimate for the third quarter of 2020. The Q3 growth rate stands at -3.8%. As a result, the real GDP growth estimate for the first nine months of 2020 is -5%. As a result of the update, the growth forecast for Q4 of 2020 was revised to -3.3%. ISET-PI’s first forecast for Q1 of 2021 puts GDP growth at -1.4%.
30
October
2020
In October 2020, the Khachapuri Index continued its upward trend and reached 4.37 GEL. This figure is 2.9% higher than the previous month (September 2020) and 12.5% higher than October 2019 (YoY). Every ingredient contributed to the YoY Khachapuri Index inflation: cheese (19.0%), flour (16.3%), butter (12.4%), yeast (16.4%), milk (2.8%), and eggs (0.3%).
