Tuesday, August 7 2018 12:26

ArmInfo. On the consumer market of Armenia, in 2018, from April to July inclusive, monthly deflation is fixed, while in 2017 the decline in demand began in May and  continued throughout the summer. According to the data of the  National Statistical Service of Armenia, in January-July of 2018,  deflation was registered at 1.7%, against 1.4% deflation in the same  period in 2017.

 

 This was provoked by a reduction in the price of  exclusively food products (including alcohol and cigarettes) by 5.4%,  with a rise in prices for non-food products by 1.4% and an increase  in tariffs for services by 1.2%. On an annual basis (as compared to  January-July 2017), consumer prices were fixed at 2.4% (against  inflation of 0.5% a year ago), helped by the rise in price of food  products by 2%, non-food products - by 4.9% % and an increase in  tariffs for services by 1.5%. The average monthly decline in prices  for food products in January-July 2018 was 0.2%, repeating last  year's trend.

In July 2018, by July 2017, consumer prices increased by 2.3% due to  a rise in the price of food products by 1.3%, non-food products - by  5.5% and increase in tariffs for services by 1.4%. Only in July there  was a deflation of 1.2% against the background of cheaper food  products by 2.5% and non-food products - by 0.5%, with a 0.1%  increase in tariffs for services. In Yerevan, consumer prices  declined by 1.1% in July 2018, against a decline of 2.4% a year  earlier.

According to statistics, the July deflation in the food market is due  mainly to a reduction in the price of fruits and vegetables by 16.7%  and 11.8%, respectively. And, only in the capital, vegetables for  July fell by 11.2%, and fruits - by 16.5%. In the annual cut  (compared to July 2017), prices for vegetables decreased by 1%, and  fruits - by 12.6%.

In the consumer basket, the total share of fruits and vegetables is  8.36%, and their total price reduction in July by 13.4% pushed the  index down by 1.1 percentage points.

Dairy products, cheese and eggs fell in price in July by 1.1% (only  eggs - by 3.7%), and in the annual cut, prices for these products  decreased by 0.5%. In the capital, this group of goods fell by 0.6%.

Sugar and sugar fell in price in July by 4.8%, and in the annual cut  - by 16.8%. And, only in the capital, the price of cheaper in July  was 4.1%.

Bakery products, cereals, coffee, tea and cocoa fell in price by 0.1%  in July.

Meat products rose in price by 7.6% on an annual basis, but only in  July they fell by 0.3%, while in the capital growth was registered at  0.1%.

Fish products went up 1.1% in July, and in annual terms - by 7.3%.

Vegetable and melted oil rose in price in July 2018 by 0.1%, soft  drinks - by 0.2%, alcohol and cigarettes - by 0.4% (due to a rise in  price of cigarettes by 0.9%).

In the non-food market in July fell in price: clothing - by 3.7%,  footwear - by 3%, cleaning products - by 1.1%, tableware and kitchen  utensils - by 0.5%, building materials - by 0.3%, jewelry products -  by 0.3%, medicines - by 0.1%. At the same time, there was a rise in  price of household appliances - by 0.1%, horticultural equipment - by  0.1%, furniture - by 0.4%, carpets and floor coverings - by 0.6%,  electrical equipment - by 0.6%, lubricants and fuel - by 1%. Prices  for gasoline in July did not change, and diesel fuel went up by 1.5%,  in comparison with July 2017, gasoline and diesel fuel went up by  17.1% and 27.9%, respectively. In January-July 2018 gasoline and  diesel fuel went up by 9.3% and 22.5%, respectively. Only in the  capital, non-food items fell in price by 0.9% in July.

The July rise in prices for services was mainly due to a rise in the  cost of recreation services and cultural events by 0.7%, an increase  in transportation tariffs by 0.6% (due to an increase of 1.8% in  tariffs for international flights) . In the capital, tariffs for  services rose by 0.1% in July.

To note, in January-July 2017, deflation in Armenia was 1.4%, while  in July the deflation was 2.6%. In particular, in January-July, food  products fell 1.6%, non-food products - 2.3%, while tariffs for  services decreased by 0.7%. Annual inflation (January-July 2017 to  January-July 2016) amounted to 0.5% due to a rise in the price of  food products by 4%, with a reduction in the price of non-food  products by 3% and a decrease in tariffs for services by 1.9%. In  July 2017 compared with July 2016 in the consumer market recorded  inflation of 0.9% against the backdrop of a rise in price of food  products by 3.3%, with a cheaper non-food products by 2.7% and the  unchanged rates for services. Only in July 2017 deflation in 2.6%  provoked cheaper food and non-food products by 5.3% and 0.8%  respectively, with a 0.1% increase in tariffs for services. In  Yerevan, consumer prices declined in July 2017 by 2.4%, against a  decline of 2.3% a year earlier.