National Statistics Service: In 2015 average monthly nominal salary in Armenia grew by 10.3% amid 18% depreciation of national currency

ArmInfo. In Jan 2015 versus Dec 2014, the consumer prices grew by 2.5%. In Feb-Jul 2015, the prices on the consumer market dropped 4.6%. In Jan-Sept 2015 the prices fell by 2.1% versus Dec 2014, Gurgen Martirosyan, Head of the Price Statistics and International Comparisons Department at the National Statistics Service of Armenia, told journalists on October 14. He said that the 2.5% growth in prices in Jan 2015 was followed by general price drop on the consumer market in Armenia in Feb-Jul 2015.  In Jan-Apr 2015, the average monthly drop in prices made up 0.1-0.5%, in June-July 2015 the food prices dropped more tangibly. The prices fell by 1.4% in June and by 2.2% in July. Amid the 0.1% growth in prices in September, the food prices underwent no changes as compared to August, like the tariffs of services, while the nonfood prices rose by 0.6%.

According to the National Statistics Service, the price growth in five food groups ranged from 0.3% to 3.5% in September as compared to August. In particular, the biggest growth was fixed in vegetable prices - 3.5%. Cereal products grew in prices by 0.3%, coffee, tea, cocoa - by 5.5%, confectionary - by 11.7%, soft drinks - by 5.4%, and other products - by 2.3%.

In Jan-Sept 2015 versus Dec 2014, 8 out of 13 types of food products dropped in price by 32.7-1.3%, with 5 types of products growing in price by 0.3-11.7%.  In particular, vegetables and potatoes dropped in price by 32.7%, eggs - by 2.9%, fish products - by 14.1%, fruit - by 12%, sugar - by 10.7%. Martirosyan said that in Sept 2015 versus Sept 2014 the consumer prices grew by 3.3% (2.3% growth in food prices, 6.1% growth in nonfood prices, and 1.6% growth in tariffs of services.

In Jan-Sept 2015 versus Jan-Sept 2014, the aggregate price growth made up 4.7% (4.9% rise in food prices, 5.9% rise in nonfood prices, 3.2% rise in tariffs of services).

When speaking of the exchange rate fluctuations, Martirosyan said that the USD exchange rate fixed by the Central Bank of Armenia (CBA) rose by 0.5% monthly in Jul-Aug and by 0.3% in Sept 2015. Over the period under review, the national currency depreciated by 3.8%. As a result, USD appreciated and AMD depreciated by 18%. Meanwhile, EUR depreciated by 5.3% in Jan-Sept 2015 (1.7% appreciation in Aug 2015 and 1.1% appreciation in Sept 2015).

Martirosyan said that the minimum consumer basket in Armenia in average current prices dropped by 809 AMD in Q2 2015 and totaled 59,588 AMD versus 60,397 AMD in Q1 2015. In 2014 that indicator made up 59,128 AMD and 58,404 respectively. 

He added that the average monthly nominal salary in Armenia totaled 186,851 AMD in August 2015 (9.3% more than in 2014). In Jan-Sept 2015, this indicator grew by 10.3%.

As regards the forecasts about the price dynamics on the consumer market, Martirosyan told an ArmInfo correspondent that the agricultural products will be growing in price from late 2015 till spring 2016. "Prices are always expected to rise. If last year's scenario recurs, one can expect the prices to rise by 3.6%," he said.