Thursday, February 20 2020 17:36
Karine Melikyan

For 2019 among EAEU countries the lowest inflation was recorded in  Armenia

For 2019 among EAEU countries the lowest inflation was recorded in  Armenia

ArmInfo.  For 2019 among the EAEU countries , the lowest inflation was recorded in Armenia - 0.7%. This is noted in the February issue of the EEC analytical  review "Main Socio-Economic Indicators of the EAEU".

Then, in 2019, inflation follows Russia - 3%, Kyrgyzstan - 3.1%,  Belarus - 4.7%, Kazakhstan - 5.4%.

Armenia is also the leader in the smallest increase in food prices -  by 0.2% in 2019. And the lowest price increase for non-food products  and the smallest rise in prices for services were recorded in  Kyrgyzstan - 0.6% and 0.4%, respectively.

In total, inflation in the EAEU amounted to 3.3% in 2019, including  food products rose by 3.4%, non-food products by 3.1%, and tariffs  for services rose by 3.4%.  Meanwhile, in the World Bank forecast for  Armenia for 2019, inflation was expected at 3%, with an increase in  2020 to 4% and maintaining this level in 2021.

According to the Statistical Committee of the Republic of Armenia,  inflation in the consumer market of Armenia in 2019 was lower - 0.7%  than in 2018 - 1.8%. This was largely triggered by an increase in  prices of non-food products (including alcohol and cigarettes) by  1.4% than in food products by 0.2%, with a rise in tariffs for  services by 1.1%. The average monthly increase in consumer prices in  January-December 2019 amounted to 0.1%, repeating the trend a year  ago.

In y-o-y terms (January-December 2019 to January-December 2018),  inflation amounted to 1.4% (against inflation at 2.5% a year ago),  due to a rise in price of food products by 2.1% (against 2.5% -  growth a year earlier), non-food - by 1.5% (against 4.5% growth a  year earlier) and increase in tariffs for services by 0.5% (against  1.2% growth a year earlier).

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