Tuesday, July 6 2021 16:46

ArmInfo. The y-o-y inflation in the consumer market of Armenia, amounted to 6.5% in June 2021  (against 1.7% a year earlier), due to the rise in prices for food products  (including alcohol and cigarettes) by 8.8% and non-food products by  9.5%, with an increase in tariffs for services by 2.1%, while a year  earlier (June 2020 to June 2019) there was an increase in the price  of food products by 2.9% and an increase in tariffs for services by  1.3%, while the price of non-food products decreased by 0.2%. This is  evidenced by the data of the RA Statistical Committee.

In Q1 2021, inflation in the consumer market amounted to 3.8%  (against 1% inflation a year earlier), which was provoked by a rise  in prices for food products by 5.6%, non-food products by 5% and an  increase in tariffs for services by 1%. As a comparison, note that,  Q1 2020, food products rose in price by 2.3%, tariffs for services  increased by 0.6%, and non-food products fell in price by 0.9%.  According to statistics, the average monthly growth in consumer  prices amounted to 0.6% Q1 2021, against an increase of 0.2% a year  earlier.

On a y-o-y terms (H1 2021 to H1 2020), consumer market inflation  amounted to 5.7% (against inflationary 0.5% a year earlier), which  was facilitated by almost the same rise in prices for food and  non-food products - by 7.8% and 7.9 %, and an increase in tariffs for  services by 2%.

In June 2021 alone, deflation of 0.8% was recorded (against  deflationary 0.4% in May of this year and 1.4% in June 2020),  provoked by a decrease in the price of food products by 2.1% (against  0.8% decline in May this year and 3.1% decline in June 2020), with  the prices of non-food products unchanged (against unchanged in May  this year and 0.5% decline in June 2020), and an increase in tariffs  for services by 0.1% (against a decline of 0.2% in May this year and  a 0.2% increase in June 2020). In Yerevan, consumer prices decreased  by 0.9% in June 2021, against a 1.3% decline in June 2020.

On a y-o-y terms, vegetables (June 2021 to June 2020) went up in  price by 17.5%, but in June they fell by 13.8%. Fruits fell in price  both on a y-o-y terms - by 9%, and in the reporting month (June) - by  5.6%. In total, vegetables and fruits fell in price in June 2021 by  10.2%, and this group of food products, having a share of 8.35% in  the food basket, had a 0.9% downward effect on consumer prices.

Dairy products, cheese and eggs have risen in price on a y-o-y terms  by 10.4%, and in June alone fell by 2.3%. Moreover, the price of eggs  increased by 41.4% over the year, but in June fell by 8.1%.

Meat products went up in price on a y-o-y terms by 6.6%, and only in  June - by 1.2%. Moreover, pork rose in price on a y-o-y terms by 25%,  and in June alone by 6%.

Sugar and granulated sugar rose in price on a y-o-y terms by 43.2%,  and in June alone fell by 1%.

Oils of vegetable and animal origin rose in price on a y-o-y terms by  36.5%, and in June alone - by 1.1%.  This was mainly provoked by a  increase in prices for sunflower oil on a y-o-y terms by 87.3%, with  a rise in prices in June by 1%.

Fish and seafood rose in price by 20.2% on a y-o-y terms, and in June  alone- by 4.8%. Moreover, the price of trout increased by 23.5% on a  y-o-y terms, and in June alone - by 5.5%.

Alcoholic drinks and cigarettes rose in price on a y-o-y terms by  8.8%, and in June alone - by 0.4%.  Moreover, the average increase in  prices for alcoholic beverages was 8.7% on a y-o-y terms and 0.3% in  June, and for cigarettes - 9% and 0.7%, respectively.

Bakery products, cereals, coffee, tea and cocoa rose in June by 0.1%,  and soft drinks - by 0.2%. In the non- food market in June 2021,  prices for fuels and lubricants increased by 0.9%, dishes and kitchen  utensils - by 0.5%, large household appliances - by 0.4%, cleaning /  detergents and horticultural equipment - by 0.3%, carpets and floor  coverings - by 0.1%. At the same time, in June, jewelry fell in price  by 1%, clothes - by 0.9%, footwear - by 0.8%, office supplies - by  0.6%, pharmaceutical products - by 0.2%, building materials and small  household electrical appliances - by 0.1%.

Gasoline and diesel fuel rose in June by 6.2% and 4.5%, respectively.  On a y-o-y terms (June 2021 to June 2020), gasoline and diesel fuel  rose in price by 59.2% and 47.1%, and only in H1 2021 - by 29.1% and  37.9%, respectively.

An increase in tariffs for services was recorded in the sectors of  culture and recreation - in June by 0.6% (with a y-o-y growth of  2.8%), in the sectors of restaurant and hotel business - by 0.7% in  June (with a y- o-y growth of 3.4%), in the transport sector - by  0.7% in June (with a y-o-y growth of 12.3%), in housing and communal  services - by 0.3% in June (with a y-o-y growth of 9.6% ). And in the  field of communications tariffs for services fell by 0.1 % in June,  with a y-o-y growth of 1%. In the sectors of healthcare and  education, tariffs for services did not change in June, but increased  by 6.2% and 2.1% on a y-o-y terms, respectively.

The June consumer market deflation of 0.8% was accompanied by a 1.6%  revaluation of the dram against the dollar. In H1 2021, consumer  market inflation of 3.8% was accompanied by a 1.1% revaluation of the  dram against the dollar (against inflation of 1% and the devaluation  of the dram by 0.6% a year earlier). In June 2021, by June 2020, the  dram weakened against the dollar by 6.6% - to 513.10 AMD / $ 1 with  inflation of 6.5% (against 481.30 AMD / $ 1 a year earlier, with a  0.6% devaluation under inflation 1.7%).