Good news for consumers

Good news for consumers

The FINANCIAL -- In October 2016, the average cost of cooking one standard portion of Imeretian Khachapuri was 3.39 GEL, which is 6.1% lower year-on-year (compared to the same month of the previous year, October 2015). 

Annual deflation, as measured by ISET’s Khachapuri index, is in line with the GeoStat’s Consumer Price Index (CPI); both are following the same trend. CPI in October 2016 decreased by 0.2% relative to October last year (y/y). 

Prices of all khachapuri ingredients, except for butter, have decreased in October 2016 (compared to October 2015): cheese lost 8.3%, flour lost 6.7%, eggs lost 7.4%, yeast lost 5.5%, and milk lost 1.1%. However, price of butter has gone up by 9.1%. 

The main cause of CPI deflation was price decreases in the following categories: transport group (-6.7%), clothing and footwear (-5.2%), furnishing, household equipment and routine house maintenance (-3.9%). The price of food and non-alcoholic beverages has gone up slightly by 0.2% (y/y).