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The cost of cooking one standard Imeretian khachapuri in May 2019 averaged 3.24 GEL, which is approximately 2.4% higher compared to May 2018 (year-on-year), and 6.4% lower compared to the previous month (April 2019).
The highest increase was observed in flour prices, which have gone up by 7.4% compared to their levels last year (May 2018). The Khachapuri Index data can moreover reveal an increasing trend in flour prices, starting from last year. According to our estimates, however, in monthly terms the price of (high grade) flour was 0.6% lower than compared to the previous month (April, 2019). This tendency is also in line with world price trends.
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The average cost of cooking one standard Imeretian khachapuri declined to 3.24GEL in May 2019. The price dropped by 6.4% month-on-month (compared to April 2019); however year-on-year prices have increased by 2.4% (compared to May 2018).
The Khachapuri Index lost value in all large cities in Georgia compared to the prior month (April 2019). The highest month-on-month decrease of 16.6% was observed in Kutaisi, where the price stood at 2.68 GEL, followed by Telavi (3.30 GEL) where the monthly decrease was 7.7%. Tbilisi and Batumi happened to be the most expensive places to buy khachapuri (3.50 GEL) in May, although the Tbilisi price of khachapuri still decreased, by 1.6% and the Batumi price decreased by 0.7%. The price difference between the most expensive cities (Tbilisi, Batumi) and the cheapest one (Kutaisi) was 0.82 GEL.
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The average cost of cooking one standard Imeretian khachapuri in April 2019 varied across Georgian cities, from 3.21 GEL (the price in Kutaisi) to 3.57 GEL (in Telavi). The overall average price was 3.47 GEL, which is 1.3% lower compared to the previous month (March 2019), and 5.5% higher compared to the same month of last year (April 2018). The change in yearly terms was driven by increases in three of the core ingredients: cheese prices went up by 9.5%, followed by flour (7.6%), and butter (1.7%).
When comparing the average khachapuri prices across cities, one can discern that Telavi and Tbilisi charge the highest prices. The average cost of a khachapuri in Tbilisi and Telavi is 3.56 GEL and 3.57, respectively, which is higher than the average Georgian price. Moreover, looking at the minimum prices observed in every city reveals that Tbilisi offers the greatest savings for those looking for the cheapest ingredients. Frugal people, if they invest the time to find the cheapest khachapuri components, can save a solid 26.3% and pay just 2.81 GEL for one portion of khachapuri in Tbilisi. Nevertheless, one can cook the cheapest khachapuri in Kutaisi, where the minimum price is just 2.72 GEL.
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The average cost of cooking one standard Imeretian khachapuri in April 2019 was 3.47 GEL, and the Index lost 1.3% compared to the previous month (March 2019). Such a decrease was in line with an expected seasonal declining trend, which is largely driven by a springtime adjustment to the price of milk and milk products.
Nevertheless, in annual terms (compared to April 2018), the Index actually increased by 5.5%. The reason behind this might well be the Easter effect. This year, the religious holiday was celebrated at the end of the April in Georgia. There is typically greater demand for cheese and milk products during the week prior to Easter. Thus, this increased demand during the prior week directly affects the price of cheese, the main contributor to inflation in the Khachapuri Index. Consequently, in April 2019, the price of cheese increased by 9.5%, compared to the same month of last year, while the price of flour and milk also increased by 7.6% and 1.7%, respectively.
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