ANNUAL COST OF MINIMUM FOOD BASKET 282,880.7 AMD IN ARMENIA IN Q2 2008

ARKA
Aug 8, 2008

YEREVAN, August 8. /ARKA/. The annual cost of minimum food basket
reached 282,880.7 AMD (about $921.1 at the nominal average exchange
rate) in Armenia in the 2nd quarter of 2008, the monthly cost thus
being 23,573.4 AMD (about $76.8).

The RA Statistical Service reports that the calculations are based
on the average prices recorded in the 2nd quarter of 2008.

In the 2nd quarter of 2008, the cost of minimum food basket decreased
by 8,480.7 AMD or 2.9% as compared with the 1st quarter, and by 1,551.7
AMD or by 0.54% as compared with the corresponding period last year.

The annual coast of minimum consumer basket reached 438,465 AMD
($1,427.7) (in terms of actual prices in the 2nd quarter of 2008),
the monthly cost being 36,538.8 AMD ($119). Thus, a 2.9% quarterly
decrease, and a 0.54% annual monthly decrease, in the cost of the
minimum consumer basket were recorded.

The annual per capita cost of baked goods reached 57,231.4 AMD (the
cost of bread being 33,725.2 AMD, with the annual consumption totaling
91.3kg). The annual cost of meat reached 58,655.5 AMD (36.5kg), dairy
products 56,243 AMD, including milk (73 liters a year) 21,870 AMD,
animal fat (7.3kg) 17,339.7 AMD, cheese (9.1kg) 11,693.5 AMD. The
annual cost of potatoes reached 15,000.6 AMD (91.3kg), of vegetables
(cabbage, onions) (109.5kg) 21,286.8 AMD, of fruit, particularly
=0 Aapples, 27,601.3 AMD, of sugar (18.3kg) 4,448.7 AMD, of eggs
(182.5 eggs) 10,566.8 AMD, of vegetable oil (7.3kg) 7,073.7 AMD,
of margarine (3.7 kg) 3,547.9 AMD and of fish (11kg) 21,224.5 AMD.

The data are calculated for a food basket, with its composition and
caloric content approved by the RA Ministry of Health. On the other
hand, the composition and caloric content of the food basket calculated
by the methods of the World Bank (based on a survey of 6,816 households
conducted from April 1, 2004 to March 31, 2005) is different. According
to the WB, the monthly cost of food basket is 20,599.7 AMD ($67.1)
and that of minimum consumer basket 31,929.6 AMD ($104).

The minimum monthly wages in Armenia (25,000 AMD or $81.4 at an average
exchange rate in the 2nd quarter of 2008) is equal to 68.4% of the
cost of minimum consumer basket, 106.1% of the cost of the minimum
food basket (calculated by the RA Ministry of Health) and to 28.86%
of the average monthly wages (86,615 AMD).

In January-June 2008, the average monthly wages were equal to 237.4%
of the cost of the minimum consumer basket.

In the first half of 2008, per capita GDP reached 410,353 AMD or
$1,334, with the average nominal wages in June being 89,547 ($294).

In the 1st half of 2008, 34.1% of Armenia’s population were engaged
in the economic sector (38.3% males and 30.2% females). In June 2008,
6.4% unemployment was recorded in Arm enia. On July 1, 2008, Armenia’s
resident population was 3,231,900 people.

From: Emil Lazarian | Ararat NewsPress