Categories: OP-ED

Great Lent Pushed Prices Down

The FINANCIAL — In March 2017, the national average price of cooking Imeretian khachapuri declined to 3.41 GEL, which is 6.9% lower compared to the previous month (February 2017), and 4.1% above its value a year ago (March 2016).

Such a noticeable monthly decline in the price of khachapuri is driven by the seasonal adjustment in the price of cheese, which stood at 7.31 GEL in March 2017, and is 12.2% below last month’s value (February 2017). As mentioned in a previous publication, this year the price of milk started its seasonal decline in March.  The Easter effect, more specifically Great Lent (which began on February 27th) might have strengthened the downward price trend, as demand on cheese and other milk products is lower during the Lent period,

It is anticipated that in upcoming months, the price of milk will follow the seasonal trend and will continue to decline; however, we might not see a significant drop in prices, because the increased demand after fasting will balance the seasonal effect. 

ADVERTISEMENT

 

The FINANCIAL

Share
Published by
The FINANCIAL

Recent Posts

Bank of America Study Finds 84% of Employers Now Say Offering Financial Wellness Tools Helps Increase Employee Retention

The FINANCIAL -- 97% of employers feel responsible for employee financial wellness, with 91% seeing…

10 mins ago

How Global South cities can work better: free course based on Oxford-led urban research

A new, free course ‘Shaping Urban Futures’, aimed at planners, policymakers and people with an…

23 mins ago

Discovery of new nanowire assembly process could enable more powerful computer chips

Researchers from Oxford University’s Department of Materials have developed a technique to precisely manipulate and…

30 mins ago

Face to face with ancient Egyptians

Realistic mummy portraits shed light on life, death in multicultural Roman era 2,000 years ago. Realistic…

57 mins ago

What makes us human? It’s all in the hips

New study shows how pelvis evolved for walking upright, allowing birth of offspring with larger…

1 hour ago

Genetic tests set to reduce burden of joint replacement surgery

A range of ground-breaking genetic tests could help predict whether joint replacements succeed or fail. These…

1 hour ago