An inflation of 1,4% recorded at the consumer market of Armenia

ArmInfo. An inflation of 1,4% recorded at the consumer market of Armenia within the annbual deflation  at 0,3% In annual view ( Q1 2017 versus Q1  2016) the consumer market shows  an inflation - at 1,4% (versus that   of 0,4 % for the same period of last year), caused by foodstuff products prices increase ( including spirits  and tobacco) for 4,8%, within  the  cheapening of non-food products  for 1,4% and services tariffs for 1,5%. 

In annual view ( in comparison to Q1 2016) a 0,3%  deflation was recorded at the consumer market (versus  1,4% a year ago), which was forced by non-products cheapening  at 3,%5  and services tariffs reduction for 2,5%, within the foodstuff prices growth for 2,8%. 

In March  2017 the consumer prices decreased for 0,1%  being caused by foodstuff prices increase for 3,3  %, within the nonfood products price decrease for 3,5 % and services tariffs  drop down   for 2,6%.  In  March only the deflation at the consumer market formed 0,3% within the   dropdown of  foodstuff  and  nonfood products prices for 0,6% and  0,2% respectively, while the  services tariffs increased  for 0,1%.  According to the information shared with ArmInfo by the National Statistics Service of Armenia, the consumer prices in Yerevan decreased in March for 0,1% similar to the dynamics  a year ago.According to the statistics, the February deflation at the foodstuff market is preconditioned mainly with cheapening of vegetables for 7,1%, at that only in Yerevan - for 6,9% . In annual view (in  comparison with March 2016)  the vegetables more expensive for 13,4%.

Dairy products, cheese and eggs have cheapened in March 2017 versus March  2016 for 3%, at that only in  March  of this year the dairy products and cheese prices decreased for 0,2% and eggs - for 0,7%.

Meat products did not  cheapen in annual  view, but only in March  grew in prices for 0,6%, at that, the capital showed the same growth. 

Vegetable  oil  and butter prices grew in March 2017 versus March  2016 for 1,3 %, and only for March the growth formed 0,5%. The sugar power in annual view  went up for 14,9%, cheapening only in  March  - for 0,9 %, at that the prices for the sugar powder in the capital decreased for 0,7%.

At nonfood market clothes and shoes cheapened in Q1  for 5,7 %,  in comparison to  March  2016 - for 0,7 %, and in January-February - for 5%. Petrol and diesel fuel in March  grew up  for 2,5% and 2%  respectively,   growing in prices respectively at 8,2% and 13,1% for Q1 of 2017. 

The  services cheapening  of services was preconditioned mainly  with electric power and gas tariffs decrease - for 2,8% and 2,3% respectively. Medical treatment services cheapened in February for 0,2 %, and leisure services - for 0,6%. At the same time the transportation services tariffs grew for  1,3%. The tariffs for the services dropped down in February for 0,7%.  

To remind, based on results of 2016  the consumer market of Armenia experienced deflation for the second year in a row - 1.1% in 2016 versus 0.1% in 2015. This was mainly due to reduction in nonfood prices (3.4%), tariffs of services (0.7%) and food prices (0.2%). In Jan-Dec 2016 versus Jan-Dec 2015, the consumer market of Armenia saw 1.4% deflation due to 3% and 2.5% reduction in food and nonfood prices, respectively, amid 1.8% growth in services tariffs.

In December 2016, consumer prices grew by 1.1% (versus 1.7% growth in Dec 2015). In December 2016,  food products rose in price by 3.1% (2.8%, alcohol and tobacco inclusive), nonfood items rose in price by  0.8%, and the tariffs of services grew by 0.2%. The Armenian National Statistical Service has told ArmInfo that in Jan-Dec 2016 the average monthly decline in consumer prices made up 0.1% versus 0.01% decline a  year before.

In December 2016, the 3.1% inflation (alcohol and tobacco exclusive) on the food market of Armenia was  mostly due to 27.7% growth in vegetable and potato prices. Fruit grew in price by 2.8% in December  2016.  Granulated sugar, alcohol and cigarettes rose in price by 0.2%; meat products, animal fat and vegetable oil - by 0.1%; dairy products, juices, coffee, tea and cocoa underwent no changes in price. At the same time, confectionary dropped in price by 1.1%, cereal products - by 0.2%, eggs - by 0.5%.

On the nonfood market, footwear dropped in price by 3.6%, cosmetics - by 2.9%, household appliances - by 2.8%, sanitary products - by 2%, detergents - by 1.7%, clothes and knitwear - by 1.4%, construction materials - by 1.2%, furniture - by 1%, carpets and gardening items - by 0.1%. At the same time, pieces of art grew in price by 1.3%, medicaments - by 1.2%, jewelry - by 0.6%, stationery - by 0.2%, textile - by 0.2%, fuel - by 0.1%. Petroleum and diesel fuel fell in price by 4.1% and 1.2%, respectively.

As regards the tariffs of services, travel agencies' services grew in price by 5.9%, legal and banking services - by 2.2%, public catering services - by 0.2%. At the same time, culture and transport services fell in price by 0.9% and 0.3%, respectively. Utility services, as well as the services in medicine, communications and education underwent no changes in price.