The FINANCIAL -- The average cost of cooking one standard Imeretian Khachapuri varied across Georgian cities in November 2016, from 3.34 GEL, the minimum, observed in Batumi, to 3.55 GEL, the maximum, observed in Telavi.
The average price was 3.46 GEL, which is 1.9% higher month-on-month (compared to October 2016). The Khachapuri Index is down up by 5.6% year-on-year (compared to November 2015), suggesting annual deflation as measured by the index.
Based on ISET’s Retail Food Price Index data in November 2016, the average cooking cost of standard portion of Imeretian Khachapuri stands at GEL 4.22, which is 16.2% lower month-on-month (compared to October 2016), and 10.7% lower year-on-year (compared to November 2015). The data is collected in several supermarkets in Tbilisi such as Carrefour, Spar and Goodwill. If consumers buy Khachapuri ingredients in supermarkets, the cost of cooking Khachapuri with exactly the same recipe tends to be 22% more expensive compared to open bazaars. The premium for shopping in supermarkets is not low, however, consumers do have the opportunity to enjoy shopping in a more comfortable environment.
It’s important to note that the annual deflation demonstrated by Khachapuri ingredients has been observed both in open bazaars and supermarkets. The index is primarily driven by the price of Imeretian cheese, the most expansive Khachapuri ingredient.