ArmInfo. In the consumer market of Armenia in January-August 2020, a deflation of 1.2% was recorded, against a 2.3% deflation in the same period of 2019. This was triggered by a decline in prices for food products (including alcohol and cigarettes) by 3.4% and non-food products by 0.6%, while tariffs for services increased by 1%. According to the Statistical Committee of the Republic of Armenia, on an annualized basis (compared to January-August 2019), the consumer market recorded inflation of 0.8% (against inflation of 1.8% a year ago), which was facilitated by the rise in prices for food and non-food products by 05% and 0.8%, respectively, and an increase in tariffs for services by 1.3%. The average monthly decline in prices on the consumer market amounted to 0.2% in January-August 2020, against 0.3% decline a year earlier.
In August 2020, against August 2019, consumer prices increased by 1.8% due to the rise in prices for food products by 2.4% and non-food products by 0.6%, while tariffs for services increased by 1.4%. In August 2020 alone, a deflation of 0.1% was recorded due to a decrease in the price of food products by 0.8%, with a rise in prices for non-food products by 0.6% and an increase in tariffs for services by 0.1%. In Yerevan in August 2020, consumer prices decreased by 0.1%, against a decline of 0.4% a year earlier.
In August 2020, compared with August 2019, the prices for alcohol and cigarettes climbed by 10.1%, but in January-August of this year alone, this group of goods rose in price by 9.5% (with a y-o-y growth of 9.9%).
Fruit prices in August 2020, compared to August 2019, climbed by 30.6%, but in August alone they decreased by 4.9%. Vegetables in y-o-y terms rose in price by only 0.3%, while in August they fell in price by 3.3%.
On the contrary, prices for sugar and granulated sugar decreased by 3.9% on y-o-y basis, while in August they increased by 0.8%.
Meat products also fell in price by 3.9% on a y-o-y basis, with a rise in price by 0.5% in August.
Dairy products, cheese and eggs, having fallen in price by 3.5% on a y-o-y basis, increased in price by 0.3% in August. Moreover, the cost of eggs decreased on an annualized basis by 20.7%, and in August increased by 2%.
Gasoline and diesel fuel rose in price by 8.7% and 1.1% in August, while prices fell by 23% and 29.8% y- o-y, respectively. And gasoline and diesel fuel fell in price by 19.5% and 24.4% for January-August of this year.
In terms of tariffs for services, the largest y-o-y growth in August 2020 was recorded in the field of culture and recreation - 5.5%, education - 3.6%, healthcare - 2.3%, hotel and restaurant business - 2.1%, while the observed in the sectors of transport and communications, the decline was in the range of 0.1-1.7%. In January-August 2020, the increase in tariffs for services was also distinguished by the sector of culture and recreation - 3.8%, hotel and restaurant business - 3.6% and healthcare- 2.1%, with a meager reduction in the cost of services in the sectors of transport and communications - by 0.1-0.3%.
In August 2020, a decrease in consumer prices by 0.1% was accompanied by a 0.2% devaluation of the dram against the dollar, and in January-August against the background of 1.2% deflation, a 1.5% devaluation of the dram was observed against the dollar (against deflation of 2,3% and dram revaluation by 1.8% a year earlier). The estimated exchange rate of the dram to the dollar in August 2020 averaged 485.5 AMD / $ 1, exceeding the level of a year ago by 2% (476 AMD / $ 1). To note, in August 2019, a deflation of 0.4% was recorded in the consumer market of Armenia, as a result of a decrease in the price of food products by 1% and an increase in tariffs for services by 0.1%, while the prices of non-food products remained unchanged.
In August 2019 versus August 2018, consumer prices increased by 0.6% due to the rise in prices for food products by 0.2% and non-food products by 2.4%, with an increase in tariffs for services by 0.2%.
In January-August 2019, deflation was recorded at 2.3% (against 1.2% deflation in the same period in 2018) due to the reduction in the price of food products (including alcohol and cigarettes) by 5.5%, while the price of non-food products increased by 0.2% and an increase in tariffs for services by 0.7%.
On a y-o-y basis (compared to January-August 2018), the consumer market recorded inflation of 1.8% (against inflation of 2.5% a year ago), which was facilitated by the rise in prices for food and non-food products by 3.1% and 1.5%, respectively and an increase in tariffs for services by 0.2%. The average monthly decline in prices on the consumer market amounted to 0.3% in January-August 2019, against a 0.2% decline a year earlier.
