In August 2015, the average cost of cooking one standard Imeretian Khachapuri was 3.49 GEL, which is 11.4 % higher month-on-month (m/m, that is compared to the previous month), and 7% higher year-on-year (y/y, that is compared to the same month of last year).
For foreign currency earners Khachapuri became more expensive in m/m terms but cheaper in y/y terms, due to the depreciation of the Georgian currency against USD and Euro that took place in the last 12 months but not between mid-June and the end of July. When expressed in USD, the Khachapuri Index gained 8.4% m/m and lost -19.9% y/y.
The lari also depreciated relative to the euro in yearly but not in monthly terms, with the index being 0.09 points higher m/m and 0.28 lower y/y. For those who receive their income in EUR, the price of a Khachapuri increased by 7.3% compared to the previous month and lost 4.1% compared to the same month of last year. As far as it is representative for prices of other goods, the kh-index suggests that for foreign currency earners domestically produced goods became considerably cheaper in the last 12 months.
More Khachapuri Index Articles
June, 2021 | Khachapuri Index Increases by 8.8%
In June 2021, the average price of cooking one Imeretian khachapuri stood at 4.28 GEL. Compared to the previous month (May 2021) the Khachapuri Index lost 1.1%. In annual terms (compared to June 2020), however, the index added 8.8%. The monthly (negative) change in the Index follows the traditional seasonal trend in fresh milk production, which peaks in June and July. In June 2021 price of cheese has decreased by 2.5% compared to the previous… Read More
May, 2021 | Food Prices Stay High
The average cost of cooking one standard Imeretian khachapuri currently stands at 4.33 GEL, which is 6.9% lower month-on-month (compared to April 2021), and 5.6% higher year-on-year (compared to May 2020). The main contributor to the price change is a seasonal decrease in the price of cheese, which fell by -13.1%, compared to the previous month (April 2021). The official estimate of annual price inflation, published by GeoStat, also shows that CPI increased by 7.7%… Read More
April, 2021 | Khachapuri Index Increases by 6%
The average cost of cooking one standard Imeretian khachapuri in April 2021 was 4.65 GEL. The Index gained 1% compared to the previous month (March 2021). Usually, at this time of year, seasonal declining trend is expected, which is largely driven by a springtime adjustment of the price of milk and milk products. However, the depreciation of the Georgian lari against the US dollar still has an upward pressure on the price of imported khachapuri… Read More
March, 2021 | Kh-Index Continues to Fall in March 2021
The Khachapuri Index kept declining in March 2021, with the average cost of cooking one standard Imeretian khachapuri reaching 4.61 GEL. This is 1.7% lower month-on-month (compared to February 2021), and 3.4% higher year-on-year (compared to March 2020). The Index lost ground in all Georgian cities and experienced the largest drop in Kutaisi (of 3.1%), which also appears to be the cheapest location. Due to the decline, the price of one standard Imeretian khachapuri in… Read More
February, 2021 | Will Wheat Price Increase Further?
In February 2021, the average cost of cooking one standard portion of Imeretian khachapuri stood at 4.69 GEL. This is 3.1% lower MoM (compared to January 2021) and 7.8% higher YoY (in comparison to February of 2020). On a monthly basis, at this time of the year, a downward trend in the index is not unusual, and simply relates to the decreasing price of cheese (due to an increased seasonal supply of fresh milk). Although… Read More
