Thursday, April 5 2018 15:42
Karine Melikyan

At Armenia`s consumption market in Q1 2018, inflation was fixed at 2.5% at annual rate of 3.3%

At Armenia`s consumption market in Q1 2018, inflation was fixed at 2.5% at annual rate of 3.3%

ArmInfo. The consumer market of Armenia in the first quarter of 2018 recorded inflation of 2.5% against last year's 1.4%. In the first quarter of this year inflation was caused mainly by a rise in price of food products by 4.1%, and to a lesser extent non-food - by 1.8% and an increase in tariffs for services by 0.8%. As ArmInfo was told in the National Statistical Service of Armenia, the average monthly price increase in the first quarter of this year amounted to 0.8%, compared to 0.5% a year earlier.

In Q1 2018, compared to the same period in 2017, inflation was 3.3%, versus the deflation rate of 0.3% a year earlier. Moreover, food and non-food products have risen in price year-on-year in almost the same way - by 4.2% and 4.4% respectively, with 1.4% increase in tariffs for services.

Only in March this year inflation was 0.1%, against deflation 0.3% in March 2017. In particular, the March inflation was provoked by a rise in price of non-food products by 0.3% and the same increase in tariffs for services, while food products fell 0.1%. In Yerevan, consumer prices rose by 0.3% in March, against a decline of 0.1% in March 2017.

Annual inflation (March 2018 to March 2017) was 3.7% (against deflation in 0.1% in March 2017 by March 2016), namely, food products increased in price by 4.6%, non-food - by 5%, tariffs for services increased by 1.8%.

According to statistics, the March deflation in the food market (0.1%) is due mainly to the reduction in the price of vegetables, dairy products and cheese, eggs - by 3.1%, 2%, 6.9%, respectively. Compared to March 2017, vegetables did not change in price, dairy products, cheese and eggs went up by 5.3%, and fruits fell 4.2% and 0.6%, respectively. In the capital, vegetables for March fell by 2.6%, and dairy products, cheese and eggs - by 2.1%. Honey, fruit puree, syrup, chocolate, confectionery and hamburger, cereals fell by 0.2% in March.

Sugar fell 9.3% in annual terms, only in March it grew by only 0.1%, and in the capital - by 0.3%.  Fruits rose in annual terms by 6.4%, but only in March - by 9.2%, and in the capital - by 11.1%.

Meat products rose in price by 13.3% in annual terms, but only in March fell by 0.2%, and only in the capital - by 0.4%.

Fish and seafood rose in price by 12.7% in annual terms, and only in March - by 1.2%, and in the capital - by 2.1%.

Vegetable and melted oil rose in price in March 2018 by March 2017 at 14.4%, and only in March - by 1.5%, due to a rise in price of butter by 1.8%. And, in the capital, vegetable and melted butter rose in price for March by 2.3%.

Coffee, tea, cocoa, alcohol and cigarettes in March went up by 0.1%, and non-alcoholic beverages - by 0.2%.  In the non-food market, the March rise in prices by 0.3% was triggered by a rise in price of footwear by 2.8%, kitchen utensils by 1.4%, furniture by 1%, clothing by 0.8%, household appliances and medicines by 0,5%, in parallel with what on 0,2% the floor coverings and carpets have fallen in price. Gasoline and diesel fuel went up by 0.1% in March, in comparison with March 2017 - by 19.3% and 26.6%, and in January-March - by 9.2% and 20.4%. In the capital, prices for non-food products rose by 0.6% in March.

The March rise in prices of services (by 0.3%) was mainly due to the increase in tariffs in the health sector - by 2.5%, in the transport sector - by 1.7% (because of 4.5% increase in the price of air tickets for international flights ), in the hotel business - by 0.4%. Parallel to this, services in the sphere of culture and recreation, and housing and communal services fell 0.4% and 0.2% respectively in March, while tariffs for services did not change in the areas of communication and education. In the capital, tariffs for services rose by 0.4% in March.

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