Wednesday, July 6 2022 17:17
Karine Melikyan

Year-on-year inflation over 10% on Armenia`s consumer market in June  2022

Year-on-year inflation over 10% on Armenia`s consumer market in June  2022

ArmInfo.The annual inflation reached 10.3% on Armenia's consumer market this June (against 6.5% last year) due a 16.1% rise in prices for food products (including  alcohol and cigarettes), and a 7.5% rise in prices for nonfoods, with  a 5.3% rise in prices for services against an 8.8% rise in prices for  food products, 9.5% rise in prices for nonfoods and  2.1% rise in  prices for services last June against June 2020. 

In the first half of 2022, 6.3% inflation was recorded on Armenia's  consumer market (against 3.8% last year) due to an 8.9% rise in  prices for food products, a 4.6% rise in prices for nonfoods and a  4.4% rise in prices for services. The first half of last year saw a  5.6% rise in priced for food products, 5% rise in prices for nonfoods  and a 1% rise in prices for services. Consumer prices showed a 1%  rise in the first half of 2022, against a 0.6% rise last year. 

In the first half of 2022 against the first half of 2021, 8.1%  inflation on the consumer market was recorded against 5.7% last year  due to a 13.1% rise in prices for food products, 6.1% rise in prices  for nonfoods and 3.5% rise in prices for services against the  respective rise of 7.8% and 7.9% in prices for food products and  nonfoods and a 2% rise in prices for services the previous year. 

This June alone, 0.3% inflation was recorded (against 0.1% this May  and 0.8% deflation last June), which caused a 0.7% rise in prices for  food products and a 0.6% rise in prices for services, with a 0.1%  decline in prices for food products. Last June saw deflation on the  consumer market due to a 2.1% decline in prices for food products,  0.1% rise in prices for service, with no changes in prices for  nonfoods. This June saw an 0.3% rise in consumer prices in Yerevan,  against a 0.9% decline last June. 

This June against last June, a 45.8% rise in prices for vegetables,  with a 16.9% decline this June alone, which is much higher as  compared with last year's 17.5% year-on-year rise and 13.8% monthly  decline. A 16.2% year-on-year rise in prices for fruits was recorded  this June against last June, with a 9.2% rise this June alone against  a decline of 9% and 5.6% respectively last year. 

The prices for the following food products showed a rise: buckwheat  (34.2%), rice (14.6%), cheese (24.5%), beef (17.8%), flour (17.7%),  bread (20%), pasta (29.9%), coffee, tea and cocoa (11.9%), fish and  seafoods (11.8%), dairy products (11%), pork (8.2%), mutton (7.1%),  vodka and beer (8.4%-9%), spring and mineral water (8%), sugar  (6.9%). A 10.3% year-on-year rise in cigarette prices was recorded as  well. 

On the other hand, a year-on-year decline is prices for eggs (24%),  sunflower oil (3%) was recorded, with the butter prices showing a  4.8% decline. All the products except for sugar, eggs, buckwheat and  rice, showed a monthly price rise. 

On the nonfood market, the prices for the following goods showed a  year-on-year rise: clothing (10.6%), footwear (10.5%), building  materials (10.4%), fuels and lubricants (9.5%), household appliances  (7.8%), furniture (7.6%), kitchen fittings (7.5%), disposable goods  (7.2%). All the aforementioned goods showed a monthly rise as well.  Jewelry prices showed a 3.2% year-on-year decline, with a 5.7%  decline this June. 

This June, petrol and diesel fuel prices showed a 1.6% and 2.2% rise  respectively. This June against last June, the petrol and diesel fuel  prices showed a 13.3% and 45.4% rise respectively (against 59.2% and  47.1% last year). In the first half of 2022 alone, the diesel fuel  price showed a 33% rise, with the petrol price showing a 2.1%,  against 37.9% and 29.1% in the first half of 2021. 

As to prices for services, the Arts, Entertainment, and Recreation  showed a 27.1% year-on-year price rise, with a 3.5% price rise this  June, sports, and entertainments prices, 20.4% (a 13.4% rise this  June), transport prices, 9.7% (a 4.1% rise this June due to a 7.3%  rise in prices for international flights), services prices, 8.3%  (with a 1.8% rise this June), postal services, 7% (a 3.4% rise this  June), hosing renovation or facelift, 5.4% (a 1.3% rise this June),  preschool and primary education, 5.1% (no change this June). The  barber's (hairdresser's) services and SPA treatment showed a 5% price  rise (a 0.3% rise this June), hotel services, 4.9% (a 2% rise this  June), medical services, 2.3% (a 0.6% rise this June). Drycleaning  and laundry services and mending of clothes showed a 4.8% rise (a  1.2% rise this June). 

The 0.3% inflation on the consumer market this June was accompanied  with a 7.4% AMD appreciation against the USD (against the 0.8%  deflation and 1.6% AMD appreciation against the USD last June). In  the first half of 2022, 6.3% inflation on the consumer market was  accompanied with 12.9% AMD appreciation against the USD (against 3.8%  inflation and 1.1% AMD appreciation against the USD last June). This  June against last June, 17.6% AMD appreciation was recorded - up to  AMD 422.70/$1, with 10.3% inflation (513.10/$1 last year, with 6.6%  AMD depreciation and 6.5% inflation).

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