Friday, January 11 2019 13:47

ArmInfo. In the consumer market of Armenia in 2018, inflation was lower - 1.8%, compared to 2017 - 2.6%. This was largely triggered by a rise in prices for non-food  products (including alcohol and cigarettes) by 3.2%, compared to food  products - by 1.8%, while tariffs for services increased by 0.8%. 

According to the Statistics Committee of the Republic of Armenia, the  average monthly increase in consumer prices in January-December 2018  was 0.1%, against a growth of 0.2% a year earlier.In annual terms  (January-December 2018 to January-December 2017), inflation also was  recorded in the consumption market - 2.5% (against inflation of 1% a  year ago), which was due to a 2.5% rise in food prices % a year  earlier), non-food products - by 4.5% (against a 1.8% decrease in  prices a year earlier) and a 1.2% increase in tariffs for services  (against a decrease of 1.3% a year earlier). In December 2018 alone,  consumer prices rose by 1.5% due to a rise in prices for food  products by 3.4% and a rise in tariffs for services by 0.3%, with a  drop in prices for non-food products by 0.4%. 

In Yerevan, consumer prices increased by 1.6% in December  2018.According to statistics, the December inflation in the food  market (3.4%) is mainly due to the rise in prices for vegetables and  fruits by 25.2% and 12.5%, respectively (with an annual increase in  the price of fruits by 10% and the price of vegetables by 6.3%). % -  December 2018 to December 2017). In Yerevan, vegetables rose in price  by 26.3% in December, and fruits - by 15%. In total, fruits and  vegetables rose by 20.9% in December 2018, and this group of  products, having a share of 8.36% in consumer basket, had a growing  effect on inflation by 1.8 percentage points.  Dairy products, cheese  and eggs fell in annual terms by a total of 2.3%, and only in  December rose by 0.4% mainly due to the increase in the price of eggs  by 1.3% (in August-December, the prices went up by 43%). In the  capital, this group of products fell in December by 0.2%.Meat  products on an annual basis went up by 8.2%, but only in December -  by 0.7%, and in Yerevan - by 0.8%.Fats of plant and animal origin  grew by 3.1% in annual terms, but only in December - by 0.6%, and in  Yerevan - by 1%.Fish and fish products rose by an annualized price of  5.4%, and in December they dropped by 0.4%, and in the capital, their  price went down by 0.1%.Bakery products and cereals went up in  December by 0.2%, and sugar and granulated sugar, soft drinks,  coffee, tea, cocoa, alcohol and cigarettes fell 0.1%. In the group of  non-food products, gasoline and diesel fuel in December decreased in  price by 2.9% and 2.4%, respectively, with an annual increase in  prices of 6.1-20.4%. 

In December, clothes and footwear also dropped in price - by 2.6% and  2.5%, respectively. In the capital, non-food products fell by 0.7%.  The December increase in tariffs for services (0.3%) provoked a rise  in price of services for organizing recreation by 3.8% and the  transport sector by 0.3% (due to an increase in prices for  international flights by 0.9%). In the capital, tariffs for services  increased in December by 0.3%.It should be noted that in 2017,  inflation in Armenia was recorded at 2.6%, after two years of  deflation - 1.1% in 2016 and 0.1% in 2015. This was largely triggered  by a rise in prices for food products (including alcohol and  cigarettes) by 5.3% and non-food products - by 1.7%, while tariffs  for services decreased by 0.5%. In annual terms (January-December  2017 to January-December 2016), inflation also was recorded in the  consumption market - 1% (against deflation of 1.4% a year ago), which  was caused by a 4% rise in prices for food products (earlier), while  non-food prices fell by 1.8% (against a 2.5% decline a year earlier)  and service tariffs decreased by 1.3% (versus a 1.8% increase a year  earlier). Only in December 2017, consumer prices increased by 1.5%, against a  growth of 1.1% in December 2016.  The December rise in prices,  triggered by the pre-New Year rush, mainly came from food products  (by 3.2%), and to a lesser extent from non-food products (by 0.1%),  while tariffs for services rose by 0.1%. The average monthly increase  in consumer prices in January-December 2017 was 0.2%, against a 0.1%  decline a year earlier.