Thursday, May 4 2023 17:09

ArmInfo. In April 2023, y-o-y inflation in Armenia's consumer market dropped to 3.2% (from 8.4% in  April 2022). This was largely due to last year's significant drop in inflation in the food market, and to a lesser extent in non-food products, as service tariffs continued to rise rapidly.  This is evidenced by the data of the Statistical Committee of the Republic of Armenia.

In particular, the growth in prices for food products in April 2023  compared to April 2022 slowed down to 1.8% (from 13.6% a year  earlier), for non-food products - from 6.1% to 2.7%, and the growth  of tariffs on services, on the contrary, accelerated from 3.8% to  5.2%.

In January-April 2023, inflation was recorded at 0.9%, against 5.8%  inflation in the same period in 2022.  This was the result of a 1%  reduction in the price of non-food products (against a 3.3% rise in  price a year earlier), a slowdown in the growth of prices for food  products - from 9.7% to 1.6%, and a slight increase in tariffs for  services - by 1.5%. 1% (against 3% growth a year earlier).

In January-April 2023, compared to January-April 2022, inflation on  the consumer market also decreased to 6.2% (from inflationary 7.4%  per annum earlier), which was largely due to a noticeable slowdown in  the growth of food prices - from 12.2 % to 6.5%, as well as a less  noticeable narrowing of the growth in prices for non-food products -  from 5.6% to 4.7%, in parallel with which there was an acceleration  in the growth of tariffs for services from 2.8% to 6.5%.

In April alone, inflation of 0.1% was recorded on the consumer market  (against 2.3% a year earlier) due to an increase in the price of food  and non-food products by 0.2% and 0.1%, respectively, with a decrease  in tariffs for services by 0.1 %, while the y-o-y increase in April  prices was more noticebale: food products - by 3.7%, non-food - by  2%, with an increase in tariffs for services by 0.7%. Consumer prices  in Yerevan only increased by 0.1% in April 2023, compared to a 2.4%  increase in April 2022.

April inflation in the consumer market (0.1%) was accompanied by a  revaluation of the dram against the dollar by 0.2%, while a year  earlier, with inflation of 2.3%, there was a revaluation of the dram  against the dollar by 5.2%. In January-April 2023, inflation in the  consumer market (0.9%) was accompanied by a revaluation of the dram  against the dollar by 1.7%, while a year earlier, with inflation of  5.8%, there was a revaluation of the dram against the dollar by 2.9%.  In April 2023, by April 2022, the dram appreciated against the dollar  by 17.7%, amounting to 387.7 AMD/ $ 1 with an inflation of 3.2%,  against 471 AMD / $ 1 (with a y-o-y revaluation of 10.4%) with a  y-o-y inflation of 8.4% in April 2022.