Monday, June 19 2017 12:18
Karine Melikyan

The inflation at the consumer market in Armenia in May 2017 formed 1,6%, and only in January-May - 2,1%

The inflation at the consumer market in Armenia in May 2017 formed  1,6%, and only in January-May  - 2,1%

ArmInfo.The inflation at the  consumer market in Armenia from Jan- May 2017 was registered 2.1%  versus 0.6% deflation of the same period in 2016. This was provoked  by price food products increase (including alcohol and cigarettes) by  5.9%, with a decrease in the price of non- food products by 1.1% and  a decrease in tariffs for services by 1%.

On an annual basis (as  compared to January-May 2016), 0.4% inflation was registered in the  consumer market (versus deflation of 1.6% a year ago), which was  supported by the increase of food products by 3.9%, with the  reduction in the price of non- food products at 3.1% and a decrease  in tariffs for services by 2.3%. The average monthly increase in  prices for food products in January-May 2017 was 0.4%, versus the  decline of 0.1% a year earlier.

In May 2017, for May 2016, consumer prices increased by 1.6% due to  the increase in price of food products by 5.9%, with a decrease in  the price of non-food products and a decrease in tariffs for services  by 2.4% and 1.7%, respectively. Only in May, deflation was registered  at 0.2% versus  the background of cheapening of food and non-food  products by 0.7% and 0.1% respectively, with a 0.3% increase in  tariffs for services. According to the  National Statistical Service,  in Yerevan consumer prices decreased by 0.2% in May 2017, versus the  decline of 1% a year ago.

According to the statistics, May deflation in food market is based  mainly on the  reduction in the price of vegetables by 5.3%, and only  in the capital - by 4.4%. In the annual cut (compared to May 2016),  prices for vegetables jumped by 30.4%.  Fruit prices decreased in May  by 0.5%, with annual price increase by 17.5%. At the same time, in  the capital fruit prices decreased by 1.8% in May.  Confectionery  products fell in price by 0.3% in May, and bakery products, cereals,  coffee, tea, cocoa and non-alcoholic beverages in price for the  reported period did not change.

Fish products went up by 23.6% on an annual basis, but only in May -  by 0.8%, but in the capital there was a slight decrease in price - by  0.1%.

Meat products rose in price by 1.8% in annual terms, but only in May  by 1.1%, while in the capital growth was registered at 0.9%.

Sugar prices in May increased by 0.1%, alcoholic beverages and  cigarettes - by 0.2%, and only cigarettes grew by 0.5%.

Vegetable and melted butter rose in price in May 2017 to May 2016 by  2.6%, and only in May - by 0.2%, due to a rise in price of butter by  1.6%.  In the non-food market, gasoline fell by 0.3% in May, and  diesel fuel went up by 0.1%, compared to May 2016, gasoline and  diesel fuel went up by 0.9% and 7.3%, respectively. For Jan-May 2017,  gasoline and diesel fuel went up by 10.4% and 13.9%, respectively.  Only in the capital, non-food products rose 0.1% in May.

May increase  in prices for services was mainly due to the increase  in tariffs in the transport sector - by 1.4% (due to an increase of  10.7% in tariffs for international flights), as well as increase  in  the price of hotel services by 1.1%. Parallel to this, services in  the sphere of culture and recreation - by 1.2% and housing and  communal services - by 0.1% fell in April, while tariffs in the  spheres of health, communication and education have not changed. In  the capital, tariffs for services rose by 0.2% in May.


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