ArmInfo.In Armenia, four-month inflation of 0.8% was triggered by food and services, which rose in price by 1.8% and 0.9%, respectively, while non-food products fell in price by 1.6%. This is not much different from last year's picture, when in January-April 2023 inflation of 0.9% came from an increase in food prices by 1.6% and an increase in the price of services by 1.1%, with a decrease in the price of non-food goods by 1%. This is evidenced by the data of the RA Statistical Committee.
In January-April 2024, compared to January-April 2023, deflation in the consumer market amounted to 1.1% (against inflation of 6.2% a year earlier), formed as a result of a reduction in the price of food by 4.5%, with an increase in the price of non-food products by 0 .2% and an increase in tariffs for services by 2.9%, while a year ago food prices rose (by 6.5%), and non-food goods and services increased in price more noticeably (by 4.7% and 6.5% respectively) than now. In January-April 2024, compared to January- April 2023, deflation in the consumer market amounted to 1.1% (against inflation of 6.2% a year earlier), formed as a result of a reduction in the price of food by 4.5%, with an increase in the price of non-food products by 0 .2% and an increase in tariffs for services by 2.9%, while a year ago food prices rose (by 6.5%), and non-food goods and services increased in price more noticeably (by 4.7% and 6.5% respectively) than now.
In April 2024, compared to April 2023, deflation was recorded at 0.7%, against inflation of 3.2% in April 2023 compared to April 2022. And this deflation was the result of a reduction in the price of food by 3.3% and non-food products by 0.5%, with an increase in tariffs for services by 2.8%. As a comparison, we note that a year ago in April 2023, compared to April 2022, prices for food and non-food products were still rising by 1.8% and 2.7%, respectively, and services showed a more noticeable increase in price by 5.2 %.
On a monthly basis, March deflationary 0.2% gave way to April inflationary 0.6% (against inflation of 0.1% in April 2023), which was the result of a reversal in food prices towards growth by 1.3% (after the March decline by 0.2%) and an increase in tariffs for services by 0.2% (after remaining unchanged in March), while the decline in prices for non-food products slowed to 0.3% (from 0.6% in March). A year ago in April, there was an increase in prices for food and non-food products by 0.2% and 0.1%, respectively, while tariffs for services decreased by 0.1%.
The most noticeable annual reduction in price (April 2024 to April 2023) in the food market was noted for the following food products: margarine - by 21.9%, sunflower oil - by 20.8%, buckwheat - by 18.9%, flour - by 11 .8%, peas - by 11.4%, pasta by 11%, cheeses - by 8.2%, butter - by 8.1%, spelt - by 7.9%, trout - by 7.5%, crushed wheat (bulgur) - by 6.1%. Vegetables and fruits also fell in price on an annual basis by 8.2% and 5%, respectively, while in April alone they increased in price by 9.2% and 3.8%. Sugar, poultry meat, beef, chocolate and cocoa fell in price over the year by 2.5-4.6%.
However, in the food market there are food products that have risen in price over the year: coffee - by 3.3%, eggs - by 2.8%, pork and lamb - by the same 0.8%, milk - by 0.7%.
Among alcoholic beverages, wines fell in price on an annual basis - by 1.1%, while vodka and beer, on the contrary, increased in price by 9.7% and 4.6%. Bottled mineral or spring water increased in price on an annual basis by 0.7%. Cigarettes increased in price by 7.6% over the year.
Jewelry prices have increased in the non-food market over the year - by 7.3%, large and small household electrical appliances - by 3.1-4.5%, furniture - by 3.1%, dishes and kitchen utensils - by 1.4%, shoes - by 0.7%. Gasoline and diesel fuel rose in price over the year by 38% and 4.9%, respectively, while in just 4 months of this year their prices decreased by 6.5% and 4.4%.
In the service sector, the most significant increase in price over the year was for services related to personal transport - by 3 times, complex services for organizing recreation - by 21.5%, services for sporting events and tourism - by 11.5%, services in the field of transport - by 7. 2%, repair of furniture and household appliances - by 5.1-5.5%, services in the field of education - by 4.8%.
Services in the hotel business also increased in price - by 1.5%, hairdressing and spa salons - by 3.4%, and medical services increased in price by 2.3%. Dry cleaning and clothing repair services, as well as clothing rental salons, increased in price over the year by 2.4%. Apartment renovation services increased in price by 2.5% over the year. Financial services rose in price on an annual basis by 12.2%. April inflation in the consumer market (0.6%) was accompanied by a revaluation of the dram against the dollar by 2.4%, more pronounced repeating last year's picture, when low inflation of 0.1% and a less noticeable revaluation of the dram against the dollar by 0.2% were recorded in April.
In January-April 2024, inflation in the consumer market (0.8%) was accompanied by a revaluation of the dram against the dollar by 3.3%, while a year earlier, with almost the same inflation of 0.9%, a more restrained revaluation of the dram against the dollar was observed by 1 .7%. In April 2024 versus April 2023, the dram weakened against the dollar by 0.8%, amounting to 391 dr/$1 with deflation of 0.7%, against 387.7 dr/$1 (with an annual revaluation of 17.7%) with annual inflation of 3.2% in April 2023.
