Friday, April 3 2020 20:37
Karine Melikyan

In Q1, 1.7% inflation was recorded at Armenia`s consumer market amid  0.1% y-o-y deflation 

In Q1, 1.7% inflation was recorded at Armenia`s consumer market amid  0.1% y-o-y deflation 

ArmInfo.In the consumer market of Armenia in the first quarter of 2020, inflation was recorded at 1.7% compared to last year's 2.6%. In the first quarter of this year  inflation was mainly triggered by a 3.9% increase in food prices and,  to a lesser extent, an increase in service tariffs by 0.4%, while  non-food prices dropped by 0.5%.

According to the RA Statistical Committee, in March alone inflation  amounted to 0.5% (against inflation 0.1% a year earlier in the same  month, in particular, March inflation was provoked by a 1.3% rise in  prices for food products, while prices for non-food products remained  constant and service tariffs decreased by 0.1 % .In Yerevan, consumer  prices rose in March by 0.6%, compared with a growth of 0.2% in March  2019.

In the I quarter of 2020, compared with the same period in 2019,  deflation was recorded at 0.1%, against inflationary 1.5% a year  earlier. Moreover, food products fell 1.8% year on year, while  non-food prices rose 1.7% and service tariffs rose 1.4%.

In March 2020, versus March 2019, a deflation of 0.1% was recorded  (against inflation of 1.9% in March 2019 against March 2018),  provoked by a decrease in the cost of food products by 1.6%, with a  rise in price of non-food products by 1.3% and an increase tariffs  for services by 1.3%.

According to statistics, March inflation in the food market (1.3%) is  mainly due to the rise in prices of fruits and vegetables by 4.4% and  6.4%, respectively. The share of these products in the consumer  basket is 10.32%, and their total price increase in March by 5.6% had  an impact on consumer price growth by 0.6 percentage points. In the  capital, vegetables rose in March by 7.4%, and fruits - by 5.3%.

Sugar and granulated sugar rose in price by 2.1% in March, and fell  by 10.6% year on year.

In March, bakery products and cereals prices also went up by 0.2%,  vegetable and melted butter - by 0.3%, cigarettes - by 0.6%, alcohol  - by 1.9%, and coffee, tea, cocoa and non-alcoholic drinks have not  changed in price.

The decrease in prices was recorded for the following food products:  meat products - in March by 1.2% with an annual decrease in price by  4.5%; fish and seafood - in March by 0.8% with an annual reduction in  price by 5.3%; dairy products, cheese and eggs - in March by 0.8%  with an annual reduction in price of 7.7%. Moreover, eggs price in  March fell by 7.5%, and in y-o-y terms - by 31.2%.

In the non-food market, in March jewelry increased by 1.8%, clothes -  by 1.2%, large household appliances - by 0.5%, furniture, cabinets,  flooring and carpets - by 0.2% and detergents - by 0.1%. At the same  time, shoes fell in price - by 1%, building materials - by 0.6%, fuel  and lubricating oil - by 0.5%, stationery - by 0.3%, kitchen utensils  and gardening tools - by 0.1%. But tableware and home furnishings,  pharmaceuticals and small household appliances in March did not  change in price. Gasoline and diesel fuel fell by 3.7% and 3% in  March, respectively, and in y-o-y terms - by 4.6% and 6.9%, and in  January-March, prices fell by 4.5% and 4.4% In the capital, prices  for non- food products rose in March by 0.2%.

Tariffs for services have decreased in price due to the introduction  of measures to prevent the spread of the coronavirus pandemic and the  temporary closure of restaurants, cafes, canteens, hotels, tour  operators and other objects related to the tourism industry, as well  as due to temporarily established restrictions on the transportation  of passengers by underground, ground transport and by air. So, in  March, tariffs for services in the field of recreation organization  decreased by 1.2%, in the field of transport - by 0.6% (due to a  decrease of 3.8% in tariffs for services of international flights),  in the hotel industry - by 0.3%, restaurants, cafes and similar  institutions - by 0.2%, in the field of culture and leisure  activities - by 0.1%. In March, tariffs for services in the field of  communications, education, healthcare, as well as in hairdressing and  SPA salons did not change.

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