Monday, April 5 2021 18:56
Karine Melikyan

Armenia`s consumer market recorded inflation of 3.8% in Q1 2021 with  5.2% y-o-y inflation 

Armenia`s consumer market recorded inflation of 3.8% in Q1 2021 with  5.2% y-o-y inflation 

ArmInfo. In the consumer market of Armenia in the first quarter of 2021, inflation was recorded at 3.8% against last year's 1.7%. In the first quarter of this year inflation  was mainly provoked by the rise in prices for foodstuffs by 6% and  non-foodstuffs by 4.3%, with an increase in tariffs for services by  0.9%.

According to the data of the Statistical Committee of the  Republic of Armenia, in March of this year alone inflation was 1%  (versus inflationary 0.5% a year earlier in the same month). In  particular, the March inflation was provoked by a rise in prices for  non-food products by 1.6% and foodstuffs by 1%, while tariffs for  services increased by 0.5%. In Yerevan, consumer prices increased by  1.1% in March, against growth by 0.6% in March 2020.

In the first quarter of 2021, compared to the same period in 2020,  inflation was recorded at 5.2%, against deflationary 0.1% a year  earlier. Moreover, food products rose in price in y-o-y terms by  7.4%, non-food products by 6.9%, while tariffs for services increased  by 1.7%.

In March 2021 versus March 2020, inflation was recorded at 5.8%  (against deflation of 0.1% in March 2020 versus March 2019), provoked  by an increase in the price of food products by 7.6%, non-food  products by 8.4% and an increase in tariffs for services by 2.2%.

According to statistics, fruit prices rose 6.9% on the food market in  March, with an annual rise of 10.9%.  And vegetables in March, on the  contrary, fell in price by 4.7%, having risen in price by 1.4% in  y-o-y terms.

Oil of vegetable and animal origin increased in price in y-o-y terms  by 24.6%, with a rise in price in March by 4.3%. Moreover, sunflower  oil jumped in price on an annualized basis by 62.2% with a rise in  price in March by 8.7%.

Sugar and granulated sugar jumped in price on an annualized basis by  40.9%, while in March it rose by 2.3%.

Dairy products, cheese and eggs rose in price on an annualized basis  by 16.5%, and in March alone- by 2.2%. Moreover, the price of eggs  jumped by 78.2% on an annualized basis, and only in March - by 8.1%.   Fish and seafood rose in price by 2.6% year on year, but in March  alone- by 1.6%.  Meat products have risen in price in y-o-y terms by  3.4%, and in March alone-by 0.8%.  Alcoholic drinks and cigarettes  rose in price on an annualized basis by 9.2%, and in March alone- by  1.9%.  Moreover, separately, alcoholic beverages rose in price on an  annualized basis by 9%, and cigarettes - by 9.6%, but in March alone  their rise in price was the same - by 1.9%.

Bakery products and cereals rose in price on an annualized basis by  9.4%, and in March alone - by 0.6%. In particular, bread and flour  rose in price on an annualized basis by 8.6% and 14.4%, respectively,  and in March alone - by 0.2% and 1.6%.

Non-alcoholic drinks, coffee, tea and cocoa rose 0.7% in March.

On the non-food market in March, prices for detergents increased by  2.9%, clothing - by 2.4%, small household electrical appliances - by  1.7%, large household appliances - by 1.6%, fuels and lubricants - by  1,5%, footwear - by 1.4%, pharmaceutical products and jewelry - by  1.2%, kitchen utensils and utensils - by 1.1%, furniture - by 0.9%,  gardening tools - by 0.8 %, carpets and floor coverings - by 0.3%.  Gasoline and diesel fuel rose in price in March by 8.2% and 11.2%,  respectively, and on an annualized basis, the rise in gasoline prices  by 4.9% was accompanied by a similar decrease in the price of diesel  fuel (by 4,9%). In January-March 2021, prices for gasoline and diesel  fuel increased by 14% and 18.1%, respectively.

As for tariffs for services, the most noticeable increase both in  annual terms and in March was recorded in the transport sector - by  8.9% and 1.2%, respectively, as well as in the healthcare sector - by  6.6% and 0, 9% respectively. In the field of education, services rose  in price on an annualized basis by 2.1%, while not changing over the  reporting month (for March). In the restaurant and hotel business,  services rose in price on an annualized basis by 2.5%, and only in  March - by 0.1%. In the field of culture and recreation, tariffs for  services increased by 1.2% on an annualized basis, and only in March  - by 0.9%. In the field of communications, tariffs for services  increased on an annualized basis by 1% with an increase in March by  0.2%. Tariffs for services in hairdressing and SPA salons increased  by 3.1% in March.

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