Thursday, December 7 2017 14:50
Karine Melikyan

At Armenia`s consumption in January-November 2017, inflation was fixed at 1.1% with an annual inflation of 0.8%

At Armenia`s consumption in January-November 2017, inflation was fixed at 1.1% with an annual inflation of 0.8%

ArmInfo. The consumer market in Armenia in November 2017 recorded inflation of 2%, which  caused by a rise in price of food products by 4.2%, non-food products - by 0.5%, increase in tariffs for services - by 0.4%. In the capital, consumer prices rose by 2% in November. In January-November 2017, inflation in 1.1% was caused by a rise in price of food products by 2% and non- food prices by 1.6%, while tariffs for services decreased by 0.6%.

The National Statistical Service of Armenia told ArmInfo that the average monthly growth in consumer prices in January-November 2017 was 0.1%, against a decline of 0.2% a year earlier. In January-November 2017, in comparison with January-November 2016, 0.8% inflation was recorded in the consumer market due to a 3.8% rise in price of food products, a 2.1% decrease in non-food prices and a 1.3% decrease in tariffs for services %. In November 2017 in comparison with November 2016, inflation in 2,2% was caused by prices for foodstuffs increased by 4.9% and by 0.8% non-food prices, while tariffs for services decreased by 0.4%.

The November inflation in 4.2% on the food market was provoked by fruits and vegetables, having risen in price by 13.7% and 25%, respectively. And, in the annual cut (by November 2016), vegetables grew by 10.4%, and fruits fell in price by 0.7%. In the capital, vegetables increased in price for November by 22.7%, and fruits - by 18.3%. The overall increase in prices for vegetables and fruits amounted to 20.7% in November, and this group of products having a specific weight of 8.58% in consumer demand affected the growth of consumer prices in the amount of 1.76 percentage points.

Milk, cheese and eggs have risen in price by 4.1% in annual terms, but only in November - by 3.5%, and eggs have risen in price for the reporting month by 7.8%.  In the capital, this group of products went up by 3.1%. Oil of vegetable and animal origin increased in price for the year by 14.7%, but only in November - by 2.7% due to a rise in price of butter by 5.5%. In the capital, this group of products went up by 2.3%.  Meat products rose in price by 9.7% in annual terms, but only in November - by 1.6%. And in the capital, the growth in prices for meat products in November was 1.3%. Fish and seafood have risen in price for the year by 27%, but only in November - by 0.3%, of which 0.1% growth occurred in the capital. Confectionery products in November rose in price by 0.3%, and alcohol and cigarettes - by 0.4%.

Reduction in November was observed for the following products: coffee, tea, cocoa, soft drinks, bakery products, groats - by 0.2%, sugar and granulated sugar - by 1.6% (as much in the capital) with an annual decline of 5, 4%.  In the non-food market, the November inflation of 0.5% was mainly due to a 3.4% rise in prices for ready- made clothing. Gasoline and diesel fuel went up in November by 0.5%. In the annual section, gasoline went up by 11.6%, and diesel fuel - by 15.3%. In January-November 2017, gasoline and diesel fuel grew by 16.4% and 16.8%, respectively. In the capital, non-food products rose 0.5% in November.

The increase in tariffs for services in November was observed in the sphere of culture and recreation - by 1.5%, transport - by 1.4% (in connection with the 8.9% increase in prices for air tickets), housing - 0, 2%.  At the same time, tariffs for hotel services fell by 7% in November, while communications, education, and healthcare services retained the same level of tariffs for services. In the capital, service tariffs rose 0.4% in November.

It should be noted that in Armenia in November 2016, inflation was fixed at 1%, due to a rise in price of food products by 2.8% (or 2.5%, including alcohol and cigarettes), with a 0.2% decrease in non-food products and a similar reduction in tariffs for services. In January-November 2016 deflation in 2.2% was due to cheaper food products by 2.9% and non-food products by 2.7%, while tariffs for services decreased by 0.9%. the average monthly decline in consumer prices in January-November 2016 was 0.2%, repeating last year's dynamics. In January-November 2016 in comparison with January-November 2015, the consumer price index was 98.6%, including  food products - 96.8%, non-food - 97.6% and tariffs for services - 102%, and in November 2016 as compared to November 2015 - 99.4%, 99.6%, 96.5% and 101.1% respectively.

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