In December 2022, the average cost of cooking one standard Imeretian khachapuri continued its upward trend and reached 6.99 GEL. The latest average price is 0.6% higher month-on-month (compared to November 2022) and 21.7% higher year-on-year (compared to December 2021), - according to ISET.
With Christmas and New Year supra preparation gaining momentum, it is typical for the index to maintain an upward month-on-month trend due to a holiday-related jump in demand. This December, the price of every khachapuri ingredient notably increased on an annual basis: cheese went up by 27.4%, milk – by 20.0%, butter – by 17.3%, yeast – by 15.1%, flour – by 13.3%, and the price of eggs rose by 8.6%.
On an annual basis, Khachapuri Index prices are on the rise for all Georgian cities. The largest growth was observed in Tbilisi (28.9%), followed by Telavi (22.4%), and then Batumi (21.8%). The smallest, but still sharp, the increase was recorded in Kutaisi (14.1%).
Considering the data from 2011-2022, the average cost of cooking one standard Imeretian khachapuri in December 2022 has almost doubled since 2011 (from 3.76 GEL to 6.99 GEL). The lowest cost was recorded in December 2012 (3.43 GEL), while the Khachapuri Index hit its highest recorded level (6.99 GEL) this December.
Although food prices have been going up in Georgia, it is worth noting that international prices registered their eighth consecutive monthly decline, and this should eventually be reflected in the local market and push prices down.
