Thursday, August 5 2021 12:54

ArmInfo. In the consumer market of Armenia in July 2021, y-o-y inflation increased to 8.2% (from 1.5% a year earlier), due to an increase in prices for food products  (including alcohol and cigarettes) by 13.1% and non-food products by  9.6 %, with an increase in tariffs for services by 1.8%, while a year  earlier (July 2020 to July 2019) there was an increase in the price  of food products by 2.1% and an increase in tariffs for services by  1.4%, while the prices of non-food products remained unchanged. This  is evidenced by the data of the RA Statistical Committee.

In January-July 2021, inflation in the consumer market amounted to  3.3% (against 1.1% deflation a year earlier), which was provoked by a  rise in prices for food products by 4.4%, non-food products by 4.8%  and an increase in tariffs for services for 1.1%. As a comparison, we  note that in January-July 2020, food products fell in price by 2.7%,  non-food products - by 1.2%, and tariffs for services increased by  0.9%.  According to statistics, the average monthly growth in  consumer prices in January-July 2021 amounted to 0.5%, against a  decline of 0.15% a year earlier.

On a y-o-y terms (January-July 2021 to January-July 2020), inflation  in the consumer market amounted to 6.1% (against inflationary 0.7% a  year earlier), which was facilitated by almost the same rise in  prices for food and non-food products - by 8.5% and 8.2%  respectively, and an increase in service tariffs by 1.9%.

In July 2021 alone, deflation of 0.5% was recorded (against  deflationary 0.8% in June of this year and 2.1% in July 2020),  provoked by a decrease in the price of food products by 1.2% (against  4.9% decline in July 2020), non-food products - by 0.2% (against 0.3%  decline in July 2020), and an increase in tariffs for services by  0.1% (against 0.3% growth in July 2020). In Yerevan, in July 2021,  consumer prices decreased by 0.6%, against a 1.9% decline in July  2020.

On a y-o-y terms, vegetables (July 2021 to July 2020) went up in  price by 53.1%, and in July alone they fell in price by 2.5%. Fruits  fell in price both on a y-o-y terms - by 11.8%, and in the reporting  month (July) - by 13%. In total, vegetables and fruits fell in price  in July 2021 by 7.1%, and this group of food products, having a share  of 8.35% in the food basket, had a 0.6% downward effect on consumer  prices.

Oils of vegetable and animal origin have risen in price on a y-o-y  terms by 33.8%, and in July alone fell by 2.8%. This was mainly  provoked by an increase in prices for sunflower oil on a y-o-y terms  by 75.2%, with a 7% decrease in price in July.

Sugar and granulated sugar rose in price on a y-o-y terms by 39.4%,  and fell in price by 2.1% in July alone.

Dairy products, cheese and eggs rose in price on a y-o-y terms by  12.1%, while in July they fell by 0.5%.  Moreover, the price of eggs  increased by 51.3% over the year, but in July fell by 2.3%.

Fish and seafood rose in price on a y-o-y terms by 23.8%, and in July  alone- by 3%. Moreover, the price of trout increased on a y-o-y terms  by 27.5%.

Meat products went up in price on a y-o-y terms by 9.7%, and in July  alone - by 1.8%. In particular, pork rose in price on a y-o-y terms  by 32.2%.

Alcoholic beverages and cigarettes rose in price on a y-o-y terms by  9.2%, and in July alone- by 0.5%.  Moreover, on a y-o-y terms, the  average increase in prices for alcoholic beverages was 8.6% and 0.1%  in July, and for cigarettes - 10.3% and 1.2%, respectively.

In July, prices for bakery products, cereals, coffee, tea, cocoa and  soft drinks also went up - by 0.3-0.4%. In the non-food market, in  July 2021, gasoline and diesel fuel rose in price - by 2.3% and 1.1%,  respectively.  On a y-o-y terms  (July 2021 to July 2020), gasoline  and diesel fuel rose in price by 56.8% and 43.6%, and in January-July  2021 alone - by 32.1% and 39.5%, respectively.

An increase in tariffs for services was recorded in the sectors of  culture and recreation - in July by 0.6% (with a y-o-y growth of  0.7%), in the sector of restaurant and hotel business - by 0.6% in  July (with a y-o-y growth of 2.9%), in the transport sector - by 0.2%  in July (with a y-o-y growth of 11.8%), due to a 5.4% decrease in  prices for international flights. And in the field of communications  in July, services fell by 0.1%, with a y-o-y growth of 0.9%. In the  health care sector, prices fell by 0.2% in July, and increased on a  y-o-y terms by 5.9%, which was also observed in housing and communal  services - a 0.2% decline in July was accompanied by a y-o-y growth  of 9.3%. In the field of education in July, tariffs for services did  not change, but increased on a y-o-y terms by 2.1%.

The July consumer market deflation of 0.5% was accompanied by the  dram strengthening against the dollar by 4.3%. In January-July 2021,  consumer market inflation of 3.3% was accompanied by a 5.4%  revaluation of the dram against the dollar (against deflation of 1.9%  and the devaluation of the dram by 1.3% a year earlier). In July 2021  by July 2020, the dram devaluated against the dollar by 1.3% - to  490.9 AMD / $ 1 with inflation of 8.2% (against 484.6 AMD / $ 1 a  year earlier, with a 1.7% devaluation under inflation in 1.5%).