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 by 5.6% year-on-year (compared to November 2015), suggesting annual deflation as measured by the index.
Khachapuri’s main ingredient is Imeretian cheese, and naturally, its price is the main driver of our Khachapuri Index. In November 2016, cheese was the main contributor of the year-on-year decrease in Khachapuri prices; cheese price dropped by 6.5% compared to the same month of the last year.
The GEL’s continuing depreciation relative to the USD (in November 2016, the GEL/USD exchange rate stood at 2.48, which is 0.16 points above its rate in October 2016) could have increased wheat flour prices, as Georgia is highly dependent on wheat imports. However, the exchange rate effect is balanced by the fact that international wheat prices are reflecting a decreasing trend. In October 2016, wheat prices declined by 0.55 % month-on-month (compared to September 2016).
Results from the Khachapuri Index data show that flour prices are in line with the international wheat price trend. According to our data, in November 2016 the price of flour has declined by 1.7% month-on-month (compared to October 2016), and by 7.0 % year–on-year (compared to November 2015). It is important to note that we only observe the prices of high quality wheat flour in four cities in Georgia.
The same trend has been observed in the ISET’s Retail Food Price Index. According to that index, in November 2016, the price of flour is down by 3% month-on-month (compared to October 2016).
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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
