The Khachapuri Index continued its upward trend in November 2019, with the average cost of cooking one standard Imeretian Khachapuri reaching 4.1 GEL. This is 6.1% higher month-on-month (compared to October 2019), and 12.6% higher year-on-year (compared to November 2018).
The Khachapuri Index reached its historical maximum in October 2019. The Index continued its upward trend which started in May 2019 and took a big leap in October 2019. The average cost of cooking one standard Imeretian khachapuri reached 3.90 GEL, which is 6.6% higher month-on-month (compared to September 2019) and 8.6% higher year-on-year (compared to October 2018).
In September 2019, the average cost of cooking one standard Imeretian khachapuri reached 3.64 GEL, which is 3.0% higher month-on-month (compared to August 2019), and 2.3% higher year-on-year (compared to September 2018). The price of khachapuri increased in all four major cities of Georgia: Tbilisi, Batumi, Kutaisi, and Telavi.
People face complicated financial decisions starting from a young age. Financial mistakes made early in life can be costly. Thus, Financial literacy could play an important role in sound financial decision-making. Financial illiteracy has implications for many household behaviors. People with the lack of financial literacy participate less in the stock market (van Rooij et al. 2011), choose mutual funds with higher fees (Hastings and Tejeda- Ashton, 2008), and accumulate less retirement wealth (Behrman et al. 2010).
The average cost of cooking one standard portion of Imeretian Khachapuri stood at 3.24 GEL in May 2019. This is 6.4% lower MoM (compared to April 2019), and 2.4% higher YoY (compared to May 2018).