Home / Economy / Khachapuri Index of ISET is Increased by 7% y-o-y
Khachapuri Index of ISET is Increased by 7% y-o-y

Khachapuri Index of ISET is Increased by 7% y-o-y

ISET published Khachapuri Index of May. In May 2016, the average cost of cooking one standard Imeretian khachapuri declined to 3.08 GEL, which is 2.7% lower month-on-month (that is compared to April 2016), but 7% higher year-on-year.

According to ISET, the main khachapuri ingredient is Imeretian cheese, and, naturally, its price is the main driver of our Khachapuri Index. Over the years, we have been observing a sharp upward movement in the price of cheese from July till January (see graph), and an equally sharp downward movement from February till June.

The organization notes, that these seasonal price dynamics are closely tied to the annual production cycle of Georgia’s fledgling dairy industry. The prices of cheese, yoghurts any other products that are based on fresh milk are the exact mirror image of this cycle. They go up when there is little production (in fall and early winter), and down when there is plentiful supply (in spring and early summer).

“The driving force behind these ups and downs is rural poverty and technological backwardness”, – ISET declares.