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The average cost of cooking one standard Imeretian khachapuri in October 2017 was 3.64 GEL, which is 0.2% higher month-on-month (compared to the previous month), and 7.2% higher year-on-year (compared to the same month of the previous year).

However, for those people whose salaries are denominated in EUR, khachapuri became much cheaper due to the significant depreciation of lari against the euro. In October 2016, one EUR could be exchanged for 2.60 GEL, whereas one year later, in October 2017, one EUR was worth 3.01 GEL (up by 16%), which means that last year one would need 1.3 EUR to buy one khachapuri, while today, 1.2 EUR is sufficient. As for USD earners, khachapuri became slightly more expensive for them, because the cost of cooking khachapuri increased by more than the national currency depreciated against USD.

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The cost of cooking one standard Imeretian khachapuri in October 2017 varied from 3.04 GEL to 4.18 GEL. The average price was 3.64 GEL, which is just slightly (0.1 %) lower than the previous month (September 2017). In annual terms (compared to October 2016), the Khachapuri Index showed quite a significant increase of 7.2%.

According to the Khachapuri Index, Telavi was the most expensive city in October 2017, whereas Kutaisi, where Khachapuri cost 3.58 GEL, was the cheapest one. In Tbilisi and Batumi, khachapuri cost 3.65 GEL and 3.64 GEL, respectively.

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The average cost of cooking one standard portion of Imeretian khachapuri increased up to 3.63 GEL in September 2017. This is 5.4% higher m/m (compared to August 2017), and 6% higher y/y (compared to September 2016).

According to official statistics, compared to the same month of the previous year the Consumer Price Index (annual inflation rate) increased by 6.2%, which is very close to our estimate in yearly terms, although monthly inflation (compared to August 2017) amounted to 0.7 %, which is lower than our estimate.

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In September 2017, the average cost of cooking one standard Imeretian khachapuri varied across Georgian cities, from 3.33 GEL (the minimum observed in Tbilisi), to 3.85 GEL (the maximum observed in Telavi). The average price was 3.63 GEL, which is 5.5% higher compared to the previous month (August 2017), and 6% higher compared to September of last year.

The least expensive city – Tbilisi – offers the highest savings for those “frugal housewives” who look for the cheapest ingredients for khachapuri. Thus, in Tbilisi, a frugal housewife would pay only 2.66 GEL (minimum price) for one portion of khachapuri, saving a solid 20.1% of the average price. Telavi and Batumi are less friendly to frugal housewives, offering savings of 10.1% and 10.2%, respectively. In the second largest city of Georgia – Kutaisi – prices are the highest (3.74 GEL) after Telavi, however overall it offers quite a good deal to seekers of low prices.

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