12-MONTH GROWTH OF CONSUMER PRICES MAKES 10.7% IN ARMENIA

Noyan Tapan

Au gust 1, 2008

YEREVAN, AUGUST 1, NOYAN TAPAN. 7.4% inflation in Armenian consumer
market in January-May 2008 was followed by a 2.7% fall of prices
in June-July.

Prices fell by 2.2% in July on June.

According to the RA National Statistical Service, prices of foodstuffs
(including alcoholic drinks and cigarettes) fell by 4.4% in the
indicated period, while prices of non-food commodities and service
tariffs grew by 0.7% and 0.4% respectively.

The consumer price index made 104.5% in July 2008 as compared with
December 2007, including the index of food commodities (including
alcoholic drinks and cigarettes) – 102%, that of non-food commodities –
104.9%, and service tariffs – 109%.

The average monthly growth of consumer prices made 0.6% in January-July
2008, which exceeded the respective index of the same period of last
year by 0.5%.

The consumer price index (12-month inflation rate) made 110.7%
in July 2008 on July 2007, including the index of food commodities
(including alcoholic drinks and cigarettes) – 111.6%, of non-food
commodities – 106.9%, service tariffs – 111.1%. The same indices in
January-July 2008 on January-July 2007 made 109.2%, 111.2%, 105.1%
and 107.7% respectively.