ISET

The average cost of cooking one standard Imeretian khachapuri in August 2017 was 3.08 GEL, 3.9% higher in a month-on-month comparison (m/m, that is, compared to the previous month) and 9.2% in a year-on-year comparison (y/y, that is, compared to the same month of last year).

The Khachapuri Index is mainly driven by the price of cheese, which is the main ingredient in khachapuri. In spite of the seasonal increase in milk supply, cheese prices are on the rise in almost all big cities of Georgia. Interestingly, the highest monthly increase (13.9%) in the price of Imeretian cheese was recorded in Batumi, the capital of the Adjara Region. Batumi is currently the most expensive place for cheese lovers. Telavi is the second expensive city after Batumi, where cheese prices increased by 13.2% on a monthly basis.

The price of cheese stands at 7.46 GEL/kg, which is 7% higher than the previous month (July 2017), and 17.5% higher compared to the same month of last year (August 2016). This rise might be associated with the increased number of tourists in the country. According to the Georgian National Tourism Administration, in August 2017, the number of tourists went up by 29.4% compared to the previous year. It is assumed that Adjara was the most visited region in August, which led to an increased demand for cheese, and higher prices resulted. In September, the biggest increase in cheese prices might be observed in Telavi, because September is a Rtveli time, and the flow of tourists might shift accordingly, from the Adjara to the Kakheti region.

 

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