The International School of Economics at Tbilisi State University (ISET) recently published the Khachapuri Index, which tracks the cost of preparing one standard Imeretian khachapuri. According to the December 2024 report, the average cost rose to 7.03 GEL, reflecting a 3.8% increase compared to November 2024 and an 8.4% increase compared to December 2023.

The index traditionally experiences a month-on-month rise during the festive season, driven by heightened demand associated with preparations for Christmas and New Year's celebrations (supras). In December 2024, the price of cheese, a key ingredient, surged by 8.8% from the previous month, while the costs of other ingredients exhibited slight decreases.

On an annual basis, the Khachapuri Index revealed price increases across all ingredients except eggs, which saw an 8.4% decline. Cheese recorded the most significant annual price increase (+12.3%), followed by butter (+11.3%), yeast (+9.3%), milk (+8.9%), and flour (+3%).

A historical analysis of December data from 2015 to 2024 indicates that the average cost of preparing one standard Imeretian khachapuri in December 2024 has nearly doubled since 2015, rising from 3.77 GEL to 7.03 GEL. The lowest December cost during this period was recorded in 2016 at 3.61 GEL. The December 2024 Khachapuri Index set an all-time high, surpassing the previous record of 6.99 GEL, observed in December 2022, by 0.6%.

The 2022 peak was attributed to exceptional circumstances, primarily the war in Ukraine, which caused a sharp rise in ingredient prices. Following a decline in 2023, the Khachapuri Index in December 2024 rebounded, resuming its upward trajectory.