Wednesday, September 6 2017 18:23
Karine Melikyan

At Armenia`s consumer market, the annual inflation in August 2017 was 0.9%, but only in January-August, there was a deflation of 1.8%

At Armenia`s consumer market, the annual inflation in August 2017 was 0.9%, but only in January-August, there was a deflation of 1.8%

ArmInfo. On the consumer market of Armenia in January-August 2017, deflation was registered at 1.8%, against 3.8% deflation in the same period in 2016. This was provoked by a reduction in the price of food products (including alcohol and cigarettes) by 2.9% and non- food products by 2.1% and a 0.1% decrease in tariffs for services.

According to the data of the National Statistical Service of Armenia provided to ArmInfo, on an annual basis (as compared to January-August 2016) inflation was 0.6% (against deflation of 1.6% a year ago), helped by a rise in the price of food products by 3.8% %, with a cheaper non-food products by 2.9% and a decrease in tariffs for services by 1.6%. The average monthly decline in prices for food products in January-August 2017 was 0.2%, against a decline of 0.5% a year earlier.

In August 2017, by August 2016, consumer prices increased by 0.9% due to a rise in the price of food products by 2.7%, with a decrease in the price of non-food products by 1.8% and an increase in tariffs for services by 0.5%. Only in August, deflation was registered at 0.4% against the background of cheaper foodstuffs by 1.4% with a rise in the price of non-food products by 0.2% and an increase in tariffs for services by 0.6%. In Yerevan, consumer prices fell by 0.4% in August 2017, against a decline of 0.5% a year earlier.

To note, in August 2016, 0.5% deflation was recorded on the Armenian consumer market. This was due to a decrease in prices for food products by 0.8%, and taking into account alcoholic beverages and tobacco products, food products fell in price in August by 0.7%. The prices of non-food products also fell, while the tariffs for services did not change. The average monthly decline in consumer prices in January-August 2016 was 0.5%, against a decline of 0.3% a year earlier. In January-August 2016, the consumer price index was 96.2%, food (including alcoholic beverages and tobacco products) - 94.4%, non-food - 96.3%, tariffs for services - 98.7%. In January-August 2016compared with January-August 2015, these indicators were respectively 98.4%, 96.2%, 98.1% and 102.3%, and in August 2016 compared with August 2015 - 98.1%, 96.9%, 96.6% and 100.8% respectively.

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