Wednesday, June 8 2016 18:41
Alexandr Avanesov

Deputy Prime Minister of Armenia sees all pre-conditions for securing zero inflation

ArmInfo. Deputy Prime Minister of Armenia, Minister of International Economic Integration and Reform Vache Gabrielyan said in the parliament, Wednesday, he sees all the pre-conditions for securing zero inflation.

According to the statistical data for May 2016, there was 0.7% deflation and the inflation in summer season will be low. Actually, the target of 4% ( 1.5%) inflation will be outstripped.  These data enable us to think that inflation will not affect the Armenian pensioners considering that pensions will not be increased in 2016.  The deputy minister said inflation pressure has decreased in all sectors, except service.

According to the National Statistical Service of Armenia, deflation in the consumer market in May 2016 totaled 0.7%, as prices of foodstuff decreased 1% (or 0.9% inclusive of alcohol and tobacco), amid 0,6% decrease of non-consumer prices and 0.3% decrease of service tariffs. In May 2016 as compared to May 2015, deflation in the consumer market totaled 2.1% amid 4.1% decline of food prices and 3.5% decline on non-food prices, and 2.2% increase in service tariffs. The National Statistical Service of Armenia told ArmInfo. In Jan-May 2016, the consumer price index totaled 99.4%: food prices (inclusive of alcohol and tobacco) - 99.9%, non-foods 97.8%, and service tariffs - 100%. As compared to Jan-May 2015, these indicators were as follows:  98.4%, 95.6%, 98.8% and 102.9%. The average monthly decline of consumer prices in Jan-May 2016 totaled 0.1% versus 0.3% growth a year ago.


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