Monday, August 14 2017 13:28
Karine Melikyan

At the Armenian consumer`s market annual inflation in July 2017 was 0.9%, but only in Jan-July, there was a deflation of 1.4%

At the Armenian consumer`s  market annual inflation in July 2017 was  0.9%, but only in Jan-July, there was a deflation of 1.4%

ArmInfo. On the consumer market  of Armenia in January-July 2017 deflation in 1.4% was fixed, against  3.3% deflation in the same period of 2016. This was provoked by a  reduction in the price of food products (including alcohol and  cigarettes) by 1.6% and non-food products by 2.3% and a 0.7% decrease  in tariffs for services.

According to the data of the National  Statistical Service of Armenia provided to ArmInfo, an inflation of  0.5% (against deflation of 1.5% a year ago) was registered in the  consumer market (compared to January-July 2016), driven by a 4% rise  in the price of food products, With a reduction in the price of  non-food products by 3% and a decrease in tariffs for services by  1.9%.  The average monthly decline in prices for foodstuffs amounted  to 0.2% in January-July 2017, against a decline of 0.5% a year ago.

In July 2017, by July 2016, consumer prices increased by 0.9% due to  a rise in the price of food products by 3.3%, with a decrease in the  price of non-food products by 2.7% and the unchanged rates for  services.  Only in July, deflation was registered at 2.6% against the  background of cheapening of food and non-food products by 5.3% and  0.8% respectively, with a 0.1% increase in tariffs for services. In  Yerevan, consumer prices declined in July 2017 by 2.4%, against a  decline of 2.3% a year ago.

According to statistics, the July deflation in the food market is due  mainly to a reduction in the price of fruits and vegetables by 31.1%  and 20%, respectively. And, only in the capital, vegetables for July  have fallen in price by 30%, and fruits - by 15.2%. In annual terms  (in comparison with July 2016), prices for vegetables increased by  3.8%, and fruits went up by 12.7%.

In the consumer basket, the total share of vegetables, potatoes and  fruits is 8.58%, and their total price reduction in July by 26.9%  pushed the index down by 2.28 percentage points.

Dairy products, cheese and eggs fell in July by 0.6% (only eggs-by  1.6%), and in the annual terms the prices for these products  increased by 1.4%.

Fish products fell in price by 0.2% in July, having risen in price by  25.2% in annual terms. In the capital, fish products fell in price by  0.2%.

Non-alcoholic beverages, tea, coffee and cocoa fell by 0.6-0.5% in  July, while the price of granulated sugar did not change.

Vegetable and melted oil rose in price in July 2017 to July 2016 by  4.9%, and only in July - by 0.4%, due to a rise in price of butter by  2%.

Meat products rose in price by 4.8% in annual terms, but only in  July-by 1%, and the growth in the capital was 1.4%.

Confectionery products went up in July by 0.3%, and bakery products  production and cereals, alcohol and cigarettes rose in price by 0.1%. 

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