Monday, October 5 2020 15:31

ArmInfo. In the consumer market of Armenia in January-September 2020, a deflation of 1.4% was recorded, against deflationary 2.1% in the same period of 2019. This  was triggered by a decrease in prices for food products (including  alcohol and cigarettes) by 4.1% and non-food products by 0.3%, while  tariffs for services increased by 1.3%.

According to the Statistical Committee of the Republic of Armenia, in y-o-y terms (compared to January-September 2019), the consumer market recorded inflation of  0.9% (against inflationary 1.6% a year ago), which was facilitated by  the rise in prices for food and non-food products, by 0.6 % 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  0.16% in January- September 2020, against a 0.2% decline a year  earlier.

In September 2020 against September 2019, consumer prices increased  by 1.4% due to the rise in prices for food products by 1.6% and  non-food products by 0.5%, with an increase in tariffs for services  by 1.4%. In September 2020 alone, a deflation of 0.2% was recorded  due to a decrease in the price of food products by 0.7%, a rise in  prices for non-food products by 0.2% and an increase in tariffs for  services by 0.2%. In Yerevan, consumer prices decreased by 0.2% in  September 2020, against growth by 0.3% a year earlier.

Fruit prices in September 2020, compared to September 2019, jumped by  20.1%, and in September alone decreased by 9.9%. Vegetables have  fallen in price in y-o-y terms by 6.9%, and in September alone - by  4.8%. In total, prices for fruits and vegetables decreased in  September by 6.87%, and the share of this group of products in the  consumer basket of 10.32% had a 0.8% impact on the level of consumer  prices.  In September 2020, prices for fish and seafood decreased by  0.5%, and for coffee, tea and cocoa - by 0.1%.

Prices for sugar and granulated sugar in September 2020 compared to  September 2019 increased by 6.4%, and in September alone - by 9.6%.   Dairy products, cheese and eggs have risen in price in y-o-y terms by  0.4%, and in September alone- by 4%. Moreover, the cost of eggs fell  by 3.7% year on year, and jumped by 19.5% in September.  Prices for  vegetable and butter oil increased by 2.4% in y-o-y terms, and in  September alone- by 0.8%.  In September 2020, prices for alcohol and  cigarettes increased by 0.1%, for bakery products and cereals - by  0.3%, and the cost of non-alcoholic beverages for the reporting month  did not change. Moreover, alcohol and cigarettes in y-o-y terms  (September 2020 to September 2019) rose by 9.8%, and in 9 months  alone- by 9.6%.  Meat products fell in price by 3% in y-o-y terms,  with a rise in price by 1% in September.

In September, gasoline and diesel fuel rose in price by 3.9% and  1.8%, while prices fell by 18.4% and 24.6% annually, respectively.  And for January-September of this year. gasoline and diesel fuel fell  in price by 16.4% and 23%. Clothes and footwear fell in price in  September by 0.4%, on an annualized basis - by 2.8%, and over 9  months of this year - by 6.2%.

In terms of tariffs for services, the largest annual growth in  September 2020 was recorded in the field of culture and recreation -  3.5%, healthcare - 2.5%, education - 2%, hotel and restaurant  business - 2%, while decline observed in the fields of transport and  communication was in the range of 0.4-0.1%. In January- September  2020, the hotel and restaurant business distinguished themselves by  an increase in tariffs for services - 3.2%, healthcare - 2.4%,  culture and recreation - 2.1%, education - 2% and transport - 0,5%.  In the field of communications for 9 months of this year services  fell in price by only 0.1%. In September alone, an increase in the  price of services was recorded in the education sector - by 2%, in  the transport sector - by 0.9%, in the healthcare sector - by 0.2%,  and a decrease in the cost of services was observed: in the field of  culture and recreation- by 1.6%, hotel and restaurant business - by  0.4%. And in the field of communications, tariffs for services in  September have not changed.

In September 2020, a 0.2% decrease in consumer prices was accompanied  by a 0.2% devaluation of the dram against the dollar, and in  January-September against the background of 1.4% deflation, a 1.8%  devaluation of the dram was observed against the dollar (against  deflation of 2, 1% and AMD revaluation by 1.7% a year earlier). The  estimated exchange rate of the dram to the dollar in September 2020  averaged 486.7 AMD / $ 1, exceeding the level of a year ago by 2.2%  (476.2 AMD / $ 1).

To note,  in the consumer market of Armenia in September 2019  inflation was recorded at 0.2%, as a result of the rise in prices of  non-food products by 0.4% and an increase in tariffs for services by  0.2%, while the prices of food products remain unchanged. In  September 2019 versus September 2018 consumer prices increased by  0.5% due to rise in prices for non-food products by 2.4% and an  increase in tariffs for services by 1.1%, while the price of food  products fell by 0.8%. In January-September 2019, deflation was  recorded at 2.1% (against 0.8% 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 0.6% and an increase in tariffs for services by 0.9%. In  y-o-y terms (compared to January-September 2018), the consumer market  recorded inflation of 1.6% (against inflation of 2.6% a year ago),  which was facilitated by the rise in prices for food and non-food  products by 2.6% and 1, 6%, respectively, and an increase in tariffs  for services by 0.3%. The average monthly decline in prices on the  consumer market amounted to 0.2% in January-September 2019, against a  0.1% decline a year earlier.