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PRICES FOR SOME FOODS RISE 10-12% AHEAD OF NEW YEAR IN ARMENIA - EXPERT
YEREVAN, December 12. /ARKA/. Prices for some foodstuffs have gone
up by approximately 10-12% ahead of the New Year holidays in Armenia,
chairman of Armenia's consumers association Armen Poghosyan said.
Unfortunately, food price increases ahead of the New Year and Christmas
have become a trend in Armenia, Poshosyan said.
Prices for goods rose by 123% and food prices by 28% in the last
three years, he told a press conference on Friday.
Poghosyan has not listed the foodstuffs but said it is the essential
foods the prices for which have gone up.
Food prices may stabilize only 10-15 days after the holidays, he
said adding Russian ruble and Armenian dram depreciation is among
the factors that affected the situation in the commodity markets.
Armenia's anti-trust commission studied the market and concluded the
price increase levels are comparable with the dram depreciation rates.
The study was carried out by the commission in the period from November
1 to December 10 and covered some 16-17 commodity goods, such as sugar,
butter, vegetable oil, chicken, eggs, coffee, flour and others.
The Armenian dram started falling after November 24, when dollar
versus dram rate jumped by 16.6 points to an eight-year-record-high
435 drams per $1. The exchange rate tends to increase even more and
reached 459.09 drams per USD today.
Earlier, the chairman of the Central Bank of Armenia Artur Javadyan
said the exchange rate changes will lead to an additional inflationary
pressure of 1.5-2% in the fourth quarter of 2014 and in the first
quarter of the next year, but the impact will level off then during
the year.
According to ArmStat, inflation was 2.8% in January-November 2014,
compared to the same period of the year before. The 2014 budgeted
inflation level is 4% (±1.5%). The same inflation rate is expected
under the 2015 government budget. -0--
http://arka.am/en/news/society/prices_for_some_foods_rise_10_12_ahead_of_new_year _in_armenia_expert/#sthash.egPMCbsY.dpuf
YEREVAN, December 12. /ARKA/. Prices for some foodstuffs have gone
up by approximately 10-12% ahead of the New Year holidays in Armenia,
chairman of Armenia's consumers association Armen Poghosyan said.
Unfortunately, food price increases ahead of the New Year and Christmas
have become a trend in Armenia, Poshosyan said.
Prices for goods rose by 123% and food prices by 28% in the last
three years, he told a press conference on Friday.
Poghosyan has not listed the foodstuffs but said it is the essential
foods the prices for which have gone up.
Food prices may stabilize only 10-15 days after the holidays, he
said adding Russian ruble and Armenian dram depreciation is among
the factors that affected the situation in the commodity markets.
Armenia's anti-trust commission studied the market and concluded the
price increase levels are comparable with the dram depreciation rates.
The study was carried out by the commission in the period from November
1 to December 10 and covered some 16-17 commodity goods, such as sugar,
butter, vegetable oil, chicken, eggs, coffee, flour and others.
The Armenian dram started falling after November 24, when dollar
versus dram rate jumped by 16.6 points to an eight-year-record-high
435 drams per $1. The exchange rate tends to increase even more and
reached 459.09 drams per USD today.
Earlier, the chairman of the Central Bank of Armenia Artur Javadyan
said the exchange rate changes will lead to an additional inflationary
pressure of 1.5-2% in the fourth quarter of 2014 and in the first
quarter of the next year, but the impact will level off then during
the year.
According to ArmStat, inflation was 2.8% in January-November 2014,
compared to the same period of the year before. The 2014 budgeted
inflation level is 4% (±1.5%). The same inflation rate is expected
under the 2015 government budget. -0--
http://arka.am/en/news/society/prices_for_some_foods_rise_10_12_ahead_of_new_year _in_armenia_expert/#sthash.egPMCbsY.dpuf