Monday, March 13 2017 18:05
Naira Badalian

Expert reflects on price growth in consumer market: Pre-electoral period implies serious legal and illegal expenses

Expert reflects on price growth in consumer market: Pre-electoral period implies serious legal and illegal expenses

ArmInfo. There are no intrinsic reasons for growth in food prices, Atom Margaryan, PhD in Economics, Associate Professor at Economics Theory Chair of the Armenian State University of Economics, told ArmInfo on March 13.   

The expert thinks that today there are no factors related to either the economic situation in Armenia or the global trends that can cause growth in prices, especially in the prices of consumer goods. At the same time, the economist recalls that the pre-electoral period implies serious legal and illegal expenses. "We see that the large businessmen are also involved in the electoral processes, particularly, on the rating-based lists," Margaryan says.

He stresses the need to thoroughly analyze the process. "This should be done by a commission, which will receive wages for such activities," Margaryan says, pointing at Artak Shaboyan (the head of the Armenian State Commission for the Protection of Economic Competition). "They should themselves initiate the analysis and give the relevant explanations," he notes.

To note, over the past few days the food market of Armenia has experienced a sharp growth in prices. In Jan-Feb 2017, the consumer prices rose by 1.7% due to 5.5% increase in food prices, amid 1.2% drop in nonfood prices and 1.6% decline in the tariffs of services.  The biggest growth was fixed in the prices of consumer goods, whose importers are running the parliamentary elections on the rating-based lists of the ruling Republican Party of Armenia. The matter concerns bananas, granulated sugar, petroleum, chocolate, etc. Granulated sugar rose in price by 16.3% as compared to Jan-Feb 2016, and by 1.1% in Feb 2017 versus Jan 2016. In Yerevan, granulated sugar grew in price by 1.5% in Feb 2017.


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