Khachapuri Index Takes A Breather On The Way Up

Khachapuri Index Takes A Breather On The Way Up

The FINANCIAL -- After consistent increases in two previous months, the average cost of cooking one standard Imeretian khachapuri stayed at 3.35 GEL in October 2014, unexpectedly bringing the Khachapuri Index to a halt. The Index dropped 0.1 % month-on-month (compared to September 2014) and year-on-year (compared to October 2013). 

There was quite a bit of regional variation in the Khachapuri Index dynamics. The Index lost 1.8 % and 1.2% in Tbilisi and Kutaisi, respectively; Batumi experienced the largest decline (-6.5%) at the end of the tourism season. The only city preserving the usual upward trend of the Index is Telavi (up by 9.9%). The price variation between the most expensive (Kutaisi) and the cheapest (Batumi) cities reached 0.42 GEL.
Despite this temporary respite, the Khachapuri Index will continue to increase in the coming months due to a seasonal decline in the supply of cheese, the main khachapuri ingredient.