ArmInfo. State Committee for the Protection of Economic Competition has monitored 10 biggest companies in Armenia and found out that the bread price fell 9%- 10% in 2015, Artak Shaboyan, the Head of the Committee said in the Government on February 18.
He recalled that Prime Minister Hovik Abrahamyan charged the competition regulator to survey the market considering that flour price fell 30% within the past year. Shaboyan said flour is imported from Russia where devaluation of the national currency led to reduction of the prices. However, the bread price in Armenia was reduced by just 9%-10%.
Shaboyan explained that the flour price accounts for 52.3% of the product's cost value. The electricity price hike in the country affected the bread price - 25.4% for 1kg bread, while gas rate caused a 7.9% increase in the bread price (1kg). According to the National Statistical Service of Armenia, in Jan 2016 inflation in the consumer market totaled 2.2% as food prices, including alcohol and tobacco, increased 4.5%. Non-foods increased in price by 0.6%, while service tariffs grow 0.4%.
RUB | 4.18 | -0.02 |
USD | 390.04 | -1.40 |
EUR | 415.63 | -1.21 |
GBP | 481.74 | -0.75 |
CAD | 284.60 | -0.69 |
JPY | 25.20 | -0.09 |
CNY | 53.82 | -0.22 |
CHF | 427.68 | -1.72 |