Tuesday, January 23 2018 14:48
Naira Badalian

The Armenian parliament started hearings in connection with the growth of prices: the authorities adhere to the previous version on inflation

The Armenian parliament started hearings in connection with the growth of prices: the authorities adhere to the previous version on inflation

ArmInfo. Chairman of the National Statistical Service of Armenia Stepan Mnatsakanyan, referring to the statistical data, assures that in January-December of 2017 inflation was 2.6%, after two years of deflation in 2016 at the level of 1.1% and 0.6% in 2015 . Today, in the National Assembly of Armenia, in connection with a significant increase in prices for certain types of goods, representatives of state structures and public organizations participated.

Opening the hearing, the chairman of the parliamentary commission on economic issues Khosrov Harutyunyan immediately stopped attempts of all those who hoped to ask questions to the head of the National Statistical Service and understand calculation methodology and reasons for the discrepancy in inflation data  with the expectations of ordinary citizens. As stated by Harutyunyan, the head of the Service will deliver a message, not a report, so this format does not involve debates with Mnatsakanyan.

In response, the head of the Yelq faction, Nikol Pashinyan, urged not to take away from the head of the National Service his precious time. "If so, Mr. Mnatsakanyan can go about his business," he said, noting that the stumbling blocks were the stumbling block for the discussions that started. The secretary of the "Tsarukyan" faction Vahe Enfiadjian, in his turn, noted: "We consider the commencement of hearings with such formulations unacceptable, we should have an opportunity for open discussion." In fact, the purpose of these discussions is precisely this, otherwise it is unreasonable. " The vice speaker Eduard Sharmazanov concluded the controversy, saying that they had not gathered to "throw dust in the face" and all heads of departments would answer all the questions of interest.

So, as Stepan Mnatsakanyan stated in his message, on January 10 the Service summed up the data on the consumer price index for goods and services for 2017. Data for January 2018 will be presented only on February 5 this year. According to the data, in December compared to November, the consumer price index was 101.5%, recording a price increase of 1.5%. Inflation in January-December of 2017 was 2.6%. This was mostly caused by an increase in prices of food products (including alcohol and cigarettes) by 5.3% and non-food products by 1.7%, while tariffs for services decreased by 0.5%. The average monthly increase in consumer prices in January-December 2017 was 0.2%, against a decline of 0.1% a year earlier.

On an annual basis (January-December 2017 to January-December 2016), the consumer market also recorded inflation of 1% (against deflation of 1.4% a year ago), which was due to a rise in price of food products by 4% (against a 3% decline in the year earlier), with a reduction in the price of non-food products by 1.8% (against a decline of 2.5% a year earlier) and a 1.3% decrease in service tariffs (against a 1.8% increase a year earlier). Only in December 2017, the consumption grew by 1.5%, mainly due to a 3.2% rise in the price of foodstuffs, while the prices of non-food products grew by 0.1% and a similar increase in tariffs for services. In Yerevan, consumer prices rose by 1.2% in December 2017.  According to statistics, December inflation in the food market (3.6%, excluding alcohol and cigarettes) is due mainly to the rise in price of fruits and vegetables by 25.1% and 4.3% respectively (with annual growth - December 2017 to December 2016 - by 8.2% and 0.9%). In Yerevan, vegetables grew in price by 21.9% in December, and fruits - by 4.1%. In total, vegetables and fruits increased in price in December 2017 by 17.2%, and this group of products, having a specific weight of 8.58% in consumer demand, had a growing impact on inflation of 1.48 percentage points. Dairy products, cheese and eggs have risen in price by an annual 7%, but only in December - by 2.6% mainly due to the increase in the price of eggs by 7.3% (in October-December, eggs went up by 19% ,4%). In the capital, this group of products went up by 2.4%.  Meat products in the annual section went up by 11%, but only in December - by 1.3%, and in Yerevan - by 0.8%. Fish and fish products rose in price by 24.8% on an annual basis, and in December they fell by 0.3%, while in the capital their price went down by 0.7%.

Sugar and granulated sugar fell in annual terms by 6%, but only in December - by 0.5%, incl. in the capital - by 0.3%. In December, tea, coffee, cocoa, soft drinks - by 0.5%, bakery products and cereals - by 0.4%, butter and fats - by 0.2% also fell in price.

In the group of non-food products, gasoline and diesel fuel in December grew by 1.6% and 1.8%, respectively, with an annual increase of 18.2-18.9%. In the capital, non-food items fell 0.2%.

As for tariffs for services, their growth in December 2017 by 0.1% was mainly due to a rise in price of hotel services - by 1.3%, services in the sphere of culture and recreation - by 1.2%, and housing and communal services services - by 0,2%. At the same time, services in the transport sector fell in price, by 0.5% due to the decrease in prices for international flights by 1%, and in the spheres of health, communication and education, the tariffs for services for December were not changed. In the capital, tariffs for services increased by 0.1% in December. At the end of the message, Stepan Mnatsakanyan called on those doubting the given data to believe in their reliability. As he noted, the methodology of construction and calculation of the consumer price index was introduced by experts of the International Monetary Fund (IMF) and therefore there is no reason for any doubts.

It should be noted that according to the state budget for 2017, 12-month inflation in Armenia is planned at 4% (+ 1.5%).

POST A COMMENT
Input digits     


News
Energy Ministry: Restriction on gas tariff reduction will possibly be  cancelled for ArmeniaEnergy Ministry: Restriction on gas tariff reduction will possibly be  cancelled for Armenia
Minister: 5 Armenian companies engaged in mining industry were  deprived of the right of subsurface managementMinister: 5 Armenian companies engaged in mining industry were  deprived of the right of subsurface management
Until 2020-2021 Armenia will move to a more liberal energy market  modelUntil 2020-2021 Armenia will move to a more liberal energy market  model
Garegin Baghramyan: VTB Bank selects new operator of Teghut Project Garegin Baghramyan: VTB Bank selects new operator of Teghut Project 
EEC has developed a draft ``roadmap`` to create a Eurasian jewelry  brandEEC has developed a draft ``roadmap`` to create a Eurasian jewelry  brand
Mikael Melkumyan: Gas and electricity tariffs should be reduced not  only for vulnerable segments of society, but also for the entire  populationMikael Melkumyan: Gas and electricity tariffs should be reduced not only for vulnerable segments of society, but also for the entire population
CBA: The 25th anniversary of dram will be marked by introduction of  the 3rd generation of composite banknotes on November 22CBA: The 25th anniversary of dram will be marked by introduction of the 3rd generation of composite banknotes on November 22
Growth of economic activity slowed down to 6% in 10 months of 2018  and service sector still remains its main driverGrowth of economic activity slowed down to 6% in 10 months of 2018 and service sector still remains its main driver
Beeline expands list of Smart tariff plansBeeline expands list of Smart tariff plans
CBA: Armenia`s international reserves declined by 10% to $ 2.083  billion in Jan-Oct 2018CBA: Armenia`s international reserves declined by 10% to $ 2.083 billion in Jan-Oct 2018
The first round of negotiations on free trade agreement between EAEU  and Egypt to be held in January 2019The first round of negotiations on free trade agreement between EAEU  and Egypt to be held in January 2019
Outflow of private transfers from Armenia is growing at an  accelerated paceOutflow of private transfers from Armenia is growing at an  accelerated pace
Armenia participates in international Middle East exhibition of  natural and organic products in DubaiArmenia participates in international Middle East exhibition of  natural and organic products in Dubai
Armenian government approved adjustments to draft budget for 2019:   both expenses and revenues increasedArmenian government approved adjustments to draft budget for 2019:   both expenses and revenues increased
Statements by members of government concerning income taxation of  transfers diverge: Pashinyan argues that this can not beStatements by members of government concerning income taxation of  transfers diverge: Pashinyan argues that this can not be
ACBA-Credit Agricole Bank summed up the Myacbabank marathonACBA-Credit Agricole Bank summed up the Myacbabank marathon
Chief tax officer of Armenia explained the initiative of taxing  remittances to individualsChief tax officer of Armenia explained the initiative of taxing  remittances to individuals
New Year`s Eve insurance product from VTB Bank (Armenia) and RESO  Insurance Company - New Year`s Eve insurance product from VTB Bank (Armenia) and RESO  Insurance Company - "Safe Rest"
SRC: There is no transfer taxation projectSRC: There is no transfer taxation project
 A. Mirzoyan: The idea of taxing incoming transfers to Armenia will  not be realized without wide public discussions A. Mirzoyan: The idea of taxing incoming transfers to Armenia will  not be realized without wide public discussions
"Acciona" Spanish company is interested in constructing wind power  plants in Armenia
Armenian President held talks with Leonardo company  Executive  DirectorArmenian President held talks with Leonardo company  Executive  Director
Economic Development Minister and Head of ADB Office in Armenia  Discussed Economic PerspectivesEconomic Development Minister and Head of ADB Office in Armenia  Discussed Economic Perspectives
CBA intends to continue monetary stimulus policyCBA intends to continue monetary stimulus policy
Electric Networks of Armenia CJSC intends to enter IPOElectric Networks of Armenia CJSC intends to enter IPO
Armenian Ministry of Finance proposes to leave unchanged tax on VATArmenian Ministry of Finance proposes to leave unchanged tax on VAT
Converse Bank was introduced at the annual Career and  Entrepreneurship Fair as the creator of a success storyConverse Bank was introduced at the annual Career and  Entrepreneurship Fair as the creator of a success story
Reduction of tax rates in Armenia will be reimbursed due to excise  taxes on cigarettes, drinks and taxes on gambling and expensive carsReduction of tax rates in Armenia will be reimbursed due to excise  taxes on cigarettes, drinks and taxes on gambling and expensive cars
Armenia is slowly but surely moving towards reducing income taxArmenia is slowly but surely moving towards reducing income tax
Project from Ministry of Finance: Micro-business to replace  self-employed and family entrepreneurship in ArmeniaProject from Ministry of Finance: Micro-business to replace  self-employed and family entrepreneurship in Armenia


Exchange rates
21.11.2018
RUB7.00-0,03
USD484.00-0,41
EUR551.00-2,64
GBP618.00-3,29
CAD364.00-3,21
JPY42.00-0,24
CNY69.00-0,23
CHF486.00-1,35

Experts
Association of Organic Agriculture is being created in ArmeniaAssociation of Organic Agriculture is being created in Armenia
Pailak Tadevosyan: Governments change in Armenia, but taxation  approaches do not changePailak Tadevosyan: Governments change in Armenia, but taxation  approaches do not change
Rouben Indjikian: Everyone should follow the established unified and fair rules of the gameRouben Indjikian: Everyone should follow the established unified and fair rules of the game
Mher Arakelyan:  Armenia`s payment business has great prospectsMher Arakelyan:  Armenia`s payment business has great prospects
Rating-Agentur Expert RA GmbH and AmRating issued an industry report  on Armenia`s banking systemRating-Agentur Expert RA GmbH and AmRating issued an industry report on Armenia`s banking system
Igor Nazaruk: Each planted sprout has the right to a successful prospect if it is cherished and taken care ofIgor Nazaruk: Each planted sprout has the right to a successful prospect if it is cherished and taken care of
Ara Khzmalyan: Armenia is comfortable to Russian touristAra Khzmalyan: Armenia is comfortable to Russian tourist
The Armenian delegation to the US followed the advice of President TrumpThe Armenian delegation to the US followed the advice of President Trump
Outflow of population and passivity of the Diaspora pushes property prices downOutflow of population and passivity of the Diaspora pushes property prices down
Finombudsman: Amendments to the Civil Code on the imposition of fines and penalties will reduce the number of outstanding loans and  non-creditworthy consumersFinombudsman: Amendments to the Civil Code on the imposition of fines and penalties will reduce the number of outstanding loans and non-creditworthy consumers
Vahan Shakaryan: If we promote Armenia, the promotion of economic sectors will not be a run with obstacles, but a light run for short distancesVahan Shakaryan: If we promote Armenia, the promotion of economic sectors will not be a run with obstacles, but a light run for short distances
Gagik Aghajanyan: There is no need to look for alternatives - it is necessary to work and develop actual   directionsGagik Aghajanyan: There is no need to look for alternatives - it is necessary to work and develop actual   directions
Vitaly Nesis: Armenia is very promising from the geological point of viewVitaly Nesis: Armenia is very promising from the geological point of view
The market of OSAGO goes into virtual spaceThe market of OSAGO goes into virtual space
Ishkhan Mkhitaryan: ArCa and Mir complete the technological part of the project of interaction, business for banksIshkhan Mkhitaryan: ArCa and Mir complete the technological part of the project of interaction, business for banks
The second stage of implementation of the program for prolonging the lifetime of the power unit N2 of the Armenian NPP beginsThe second stage of implementation of the program for prolonging the lifetime of the power unit N2 of the Armenian NPP begins
Successful business is forging for years - to the jubilee of IC Successful business is forging for years - to the jubilee of IC "INGO Armenia"
Armen Shahnazaryan: The double increase in the insurance portfolio of EIAA ICJSC by the end of 2018 is quite feasibleArmen Shahnazaryan: The double increase in the insurance portfolio of EIAA ICJSC by the end of 2018 is quite feasible
Expert: Real estate market of Armenia started demonstrating weak  signs of recovery in I half-yearExpert: Real estate market of Armenia started demonstrating weak signs of recovery in I half-year
Amulsar: Ecology and РeopleAmulsar: Ecology and Рeople

Search by date

Government Bonds

 

ISIN AMGB1029A250
Auction ID AMGB1029A250A
Date 12.05.2017
Issue date 29.10.2015
Issue volume (AMD) 50 000 000 000
Maturity date 29.10.2025
Coupon year yield 11.00%
Auction volume (AMD) 1000 000 000 - 2.000 000 000
Auction date 12.05.2017
DLS
Total amount (AMD) 1 000 000 000
Amount of the total bids (AMD) 787 200 000
Amount of the total accepted bids (AMD) 787 200 000
Cut of yield (%) 10,6447
Weighted avrage yield (%) 10,6447
Auction max  yield (%) 10,6447
Auction min  yield (%) 10,6447
Number of participants 5
ArmEx

 

СПРОС (Покупка)

USD

Средневзв. Цена

482,00

ПРЕДЛОЖЕНИЕ (Продажа)

  USD

Средневзв. Цена

-

СДЕЛКИ

USD

Цена откр.

482,00

Цена закр.

482,00

Мин. Цена

482,00

Макс. Цена

482,00

Ср/взв. Цена

482,00

-0.16

Кол-во сделок

1

Объем (инвал.)

200 000

0бъем (драм)

96 400 000

Commented
T.Avinyan: The Government is open for cooperation and encourages  active dialogue and interaction in all areas T.Avinyan: The Government is open for cooperation and encourages  active dialogue and interaction in all areas 
Agreement on construction of a new unit with combined gas cycle  signed in YerevanAgreement on construction of a new unit with combined gas cycle  signed in Yerevan
Veolia Jur: Regulatory charges are false and unfoundedVeolia Jur: Regulatory charges are false and unfounded
Armenian Prime Minister: We are gaining momentum for economic takeoffArmenian Prime Minister: We are gaining momentum for economic takeoff
By the end of 2018, By the end of 2018, "Galburdjian Group" will launch the production of  sesame oil in Armenia
Expert: Armenia has a problem with effective use of water resources,  rather than small hydropower stationsExpert: Armenia has a problem with effective use of water resources,  rather than small hydropower stations
Investment forum Investment forum "Energy Week 2018" to be held in Armenia
Expert: It is necessary to start implementing the program for the  construction of a new nuclear unitExpert: It is necessary to start implementing the program for the  construction of a new nuclear unit
The updated feasibility study of construction project of electricity transmission line Armenia- Georgia will be ready by the end of the year - the Ministry of EnergyThe updated feasibility study of construction project of electricity transmission line Armenia- Georgia will be ready by the end of the year - the Ministry of Energy
Eurasian Development Bank wishes to expand its activities in ArmeniaEurasian Development Bank wishes to expand its activities in Armenia
$ 100 million to be invested in repatriation project Build Armenia$ 100 million to be invested in repatriation project Build Armenia
FRV: Armenia`s growing desire to increase renewable energy sources is  a decisive factorFRV: Armenia`s growing desire to increase renewable energy sources is a decisive factor
Suren Papikyan: It`s safe now to do business in Armenia, assures  Armenian MinisterSuren Papikyan: It`s safe now to do business in Armenia, assures  Armenian Minister
Armenian state debt started reducing up to $6.7 bln to June 1 2018Armenian state debt started reducing up to $6.7 bln to June 1 2018
Minister: Implementation of program on liberalization of the electric  power complex of Armenia will be completed within the next two yearsMinister: Implementation of program on liberalization of the electric  power complex of Armenia will be completed within the next two years
Nikol Pashinyan: In a number of cases after paying fines and  penalties the borrowers will be allowed to take new loan Nikol Pashinyan: In a number of cases after paying fines and  penalties the borrowers will be allowed to take new loan 
German bank KFW urges Armenia to build power line in the direction to  GeorgiaGerman bank KFW urges Armenia to build power line in the direction to  Georgia
Anna Chobanyan-one of most likely candidates for new Head of General  Department of Civil Aviation Anna Chobanyan-one of most likely candidates for new Head of General  Department of Civil Aviation 
IFAD confirms its readiness to develop and implement new joint programs with Armenia`s Agriculture MinistryIFAD confirms its readiness to develop and implement new joint programs with Armenia`s Agriculture Ministry
Rosselkhoznadzor asks not politicize the issue of deliveries of tomatoes from Armenia to RussiaRosselkhoznadzor asks not politicize the issue of deliveries of tomatoes from Armenia to Russia
Armenian nuclear power station has a resource for work for another 30  yearsArmenian nuclear power station has a resource for work for another 30 years
Premier: Construction of a new nuclear power plant in Armenia is one of the priorities of the new government of the countryPremier: Construction of a new nuclear power plant in Armenia is one of the priorities of the new government of the country
In Armenia, an online service has been activated that allows  calculating the cost of customs clearance of a carIn Armenia, an online service has been activated that allows calculating the cost of customs clearance of a car
Gyumri programmers won on hekaton Gyumri programmers won on hekaton "Innovative ideas for tourism development"
Armenian Lori opens a large international ski resortArmenian Lori opens a large international ski resort
A number of light and alcohol industry enterprises of Armenia will be  provided with state supportA number of light and alcohol industry enterprises of Armenia will be provided with state support
Expert: The attitude of Armenian public to the nuclear power industry is demonstrated not by the promiseExpert: The attitude of Armenian public to the nuclear power industry is demonstrated not by the promise