ArmInfo. An inflation of 1,4% recorded at the consumer market of Armenia within the annbual deflation at 0,3% In annual view ( Q1 2017 versus Q1 2016) the consumer market shows an inflation - at 1,4% (versus that of 0,4 % for the same period of last year), caused by foodstuff products prices increase ( including spirits and tobacco) for 4,8%, within the cheapening of non-food products for 1,4% and services tariffs for 1,5%.
In annual view ( in comparison to Q1 2016) a 0,3% deflation was recorded at the consumer market (versus 1,4% a year ago), which was forced by non-products cheapening at 3,%5 and services tariffs reduction for 2,5%, within the foodstuff prices growth for 2,8%.
In March 2017 the consumer prices decreased for 0,1% being caused by foodstuff prices increase for 3,3 %, within the nonfood products price decrease for 3,5 % and services tariffs drop down for 2,6%. In March only the deflation at the consumer market formed 0,3% within the dropdown of foodstuff and nonfood products prices for 0,6% and 0,2% respectively, while the services tariffs increased for 0,1%. According to the information shared with ArmInfo by the National Statistics Service of Armenia, the consumer prices in Yerevan decreased in March for 0,1% similar to the dynamics a year ago.According to the statistics, the February deflation at the foodstuff market is preconditioned mainly with cheapening of vegetables for 7,1%, at that only in Yerevan - for 6,9% . In annual view (in comparison with March 2016) the vegetables more expensive for 13,4%.
Dairy products, cheese and eggs have cheapened in March 2017 versus March 2016 for 3%, at that only in March of this year the dairy products and cheese prices decreased for 0,2% and eggs - for 0,7%.
Meat products did not cheapen in annual view, but only in March grew in prices for 0,6%, at that, the capital showed the same growth.
Vegetable oil and butter prices grew in March 2017 versus March 2016 for 1,3 %, and only for March the growth formed 0,5%. The sugar power in annual view went up for 14,9%, cheapening only in March - for 0,9 %, at that the prices for the sugar powder in the capital decreased for 0,7%.
At nonfood market clothes and shoes cheapened in Q1 for 5,7 %, in comparison to March 2016 - for 0,7 %, and in January-February - for 5%. Petrol and diesel fuel in March grew up for 2,5% and 2% respectively, growing in prices respectively at 8,2% and 13,1% for Q1 of 2017.
The services cheapening of services was preconditioned mainly with electric power and gas tariffs decrease - for 2,8% and 2,3% respectively. Medical treatment services cheapened in February for 0,2 %, and leisure services - for 0,6%. At the same time the transportation services tariffs grew for 1,3%. The tariffs for the services dropped down in February for 0,7%.
To remind, based on results of 2016 the consumer market of Armenia experienced deflation for the second year in a row - 1.1% in 2016 versus 0.1% in 2015. This was mainly due to reduction in nonfood prices (3.4%), tariffs of services (0.7%) and food prices (0.2%). In Jan-Dec 2016 versus Jan-Dec 2015, the consumer market of Armenia saw 1.4% deflation due to 3% and 2.5% reduction in food and nonfood prices, respectively, amid 1.8% growth in services tariffs.
In December 2016, consumer prices grew by 1.1% (versus 1.7% growth in Dec 2015). In December 2016, food products rose in price by 3.1% (2.8%, alcohol and tobacco inclusive), nonfood items rose in price by 0.8%, and the tariffs of services grew by 0.2%. The Armenian National Statistical Service has told ArmInfo that in Jan-Dec 2016 the average monthly decline in consumer prices made up 0.1% versus 0.01% decline a year before.
In December 2016, the 3.1% inflation (alcohol and tobacco exclusive) on the food market of Armenia was mostly due to 27.7% growth in vegetable and potato prices. Fruit grew in price by 2.8% in December 2016. Granulated sugar, alcohol and cigarettes rose in price by 0.2%; meat products, animal fat and vegetable oil - by 0.1%; dairy products, juices, coffee, tea and cocoa underwent no changes in price. At the same time, confectionary dropped in price by 1.1%, cereal products - by 0.2%, eggs - by 0.5%.
On the nonfood market, footwear dropped in price by 3.6%, cosmetics - by 2.9%, household appliances - by 2.8%, sanitary products - by 2%, detergents - by 1.7%, clothes and knitwear - by 1.4%, construction materials - by 1.2%, furniture - by 1%, carpets and gardening items - by 0.1%. At the same time, pieces of art grew in price by 1.3%, medicaments - by 1.2%, jewelry - by 0.6%, stationery - by 0.2%, textile - by 0.2%, fuel - by 0.1%. Petroleum and diesel fuel fell in price by 4.1% and 1.2%, respectively.
As regards the tariffs of services, travel agencies' services grew in price by 5.9%, legal and banking services - by 2.2%, public catering services - by 0.2%. At the same time, culture and transport services fell in price by 0.9% and 0.3%, respectively. Utility services, as well as the services in medicine, communications and education underwent no changes in price.