Wednesday, October 6 2021 13:08
Karine Melikyan

In Armenia, y-o-y inflation in September 2021 reached 8.9% due to  increase in food prices

In Armenia, y-o-y inflation in September 2021 reached 8.9% due to  increase in food prices

ArmInfo.In the consumer market of Armenia in January-September 2021, inflation was recorded at 3.6%, against deflationary 1.4% in the same period of 2020 and 2.1% pre-  COVID deflationary for 9 months of 2019.

This was provoked by a rise  in prices for non-food products by 6% and food products (including  alcohol and cigarettes) by 4.3%, while tariffs for services increased  by 1.2%. According to the Statistical Committee of the Republic of  Armenia, on a y-o-y terms (compared to January-September 2020), the  consumer market recorded inflation of 6.7% (against inflationary 0.9%  a year ago and 1.6% pre-COVID inflationary), which was provoked by  the rise in prices for food and non- food products by 9.8% and 8.5%,  respectively, and an increase in tariffs for services by 1.9%. In  January- September 2021, the average monthly rise in prices on the  consumer market amounted to 0.4%, against a 0.16% decline a year  earlier and a 0.2% pre-COVID decline.

In September 2021 to September 2020, consumer prices increased by  8.9% (against inflationary 1.4% a year earlier and pre-COVID   inflation 0.5%) due to the rise in prices for food products by 14.7%  and non- food products by 9.9%, with increase in tariffs for services  by 1.6%. In September 2021 alone, deflation of 0.1% was recorded  (against deflationary 0.2% in September 2020 and 0.2% pre-COVID  inflationary in September 2019) due to a decrease in the price of  food products by 0.5%, with a rise in prices for non-food products by  0.7% and unchanged tariffs for services. In Yerevan, consumer prices,  after increasing by 0.4% in August 2021, did not change in September  (against a 0.2% decline in September 2020 and an increase of 0.3% in  September 2019).

In September 2021, fruits fell in price by 3% compared to September  2020, and in September alone - by 4.3%. And vegetable prices on a  y-o-y terms increased by 64.5%, while in September they fell by 5.9%.  In total, prices for fruits and vegetables decreased in September by  5.21%, and the share of this group of products in the consumer basket  of 8.35% had a 0.5% impact on the reduction of consumer prices.

Vegetable and animal oils on a y-o-y terms rose in price by 27.1%,  while the price for September fell by 0.8%. Moreover, sunflower oil  on a y-o-y terms increased in price by 55.1%, while falling in price  in September by 2%.

Prices for meat products on a y-o-y terms increased by 9%, and in  September alone- by 0.1%. Moreover, pork on a y-o-y terms rose in  price by 40.2%, and in September alone - by 1.1%.

Bakery products and cereals on a y-o-y terms increased in price by  9.5% , and  in September alone - by 0.8%. Moreover, prices for bread  and flour on a y-o-y terms increased by 9.8% and 6.7%, respectively,  and in September alone- by 0.9% and 1.3%.

Dairy products, cheese and eggs on a y-o-y terms have risen in price  on by 10%, and in September alone - by 2%. In particular, the cost of  eggs on a y-o-y terms increased  by 27.4% (against a 3.9% rise in  price in September), and cheese on a y-o-y terms rose in price by  6.3% (against a 2.6% rise in price in September).

Fish and seafood prices on a y-o-y terms increased by 27.7% , and  in  September alone - by 1.2%.  Moreover, the price of trout on a y-o-y  terms has risen by 31.6%, and in September - by 1.3%.

Prices for sugar and granulated sugar in September 2021 increased by  31.1% compared to September 2020, and in September alone increased by  5.5%.

Alcohol and cigarettes on a y-o-y terms rose in price by 9.3%, with a  rise in price in September alone by 0.1%, and in just 9 months their  cost increased by 8.5%. The cost of soft drinks, coffee, tea and  cocoa increased over the reporting month by only 0.1%.

Gasoline and diesel fuel in September rose in price by 0.8% and 0.6%,  and on a y-o-y terms - by 43.1% and 42.6%, respectively. And for 9  months of this year gasoline and diesel fuel rose in price by 36.2%  and 42.6%. Clothing and footwear on a y-o-y terms rose in price by  12.4%, and in September alone- by 1.6%, and over 9 months - by 5.1%.

In terms of tariffs for services, growth in September 2021 was  recorded only in the field of education - by 1.4%, in parallel with  which, services in the sectors of transport, recreation, culture,  hotel and restaurant business fell by 0.2-0.8%, and tariffs for  services in the sectors of health care and communication remained  unchanged.

In January-September 2021, an increase in tariffs for services was  recorded in the sectors of culture and recreation - by 5.6%,  transport - by 4.4%, hotel and restaurant business - by 4%, and  healthcare - by 3.5%, education - by 1.4% and communications - by  0.7%. And in September 2021 by September 2020, the most significant  increase in the price of services was observed in the transport  sector - by 8.8% and healthcare - by 5.1%, while services in other  areas rose more modestly: recreation, culture, hotel and restaurant  business - by 2.6-2.7%, education and communications - by 0.8-1.4%.

In September 2021, a decrease in consumer prices by 0.1% was  accompanied by a 0.7% revaluation of the dram against the dollar, and  in January-September against the background of inflation of 3.6%,  there was a revaluation of the dram against the dollar by 5.9%  (against a deflation of 1, 4% and AMD devaluation by 1.8% a year  earlier). The estimated exchange rate of the dram to the dollar in  September 2021 averaged 488.1 AMD / $ 1, exceeding by 0.3% the level  of a year ago (486.7 AMD / $ 1). 


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