CONSUMER PRICES INCREASE BY 5.2% IN ARMENIA IN 2008

Noyan Tapan

Jan 8, 2008

YEREVAN, JANUARY 8, NOYAN TAPAN. The consumer price index made 105.2%
in Armenia in December 2008 on December 2007, including the index of
food commodity prices (including alcoholic drinks and cigarettes) –
103.3%, of nonfood commodity prices – 100.2%, and of service tariffs
– 111.4%.

According to the RA National Statistical Service, there was a notable
fall in prices of bread, flour, gasoline and diesel fuel in Armenia
in November-December 2008. Making up 14.23% of the consumer basket
and showing an overall fall of 12.3%, these commodities contributed
to a fall of the general level of consumer prices by 2.1 percentage
points in the indicated period. Without the price changes of the above
mentioned commodities, the consumer price index would have made 106.9%
instead of 105.2% in December 2008 on December 2007.

The average monthly growth of consumer prices in January-December 2008
made 0.4%, which was lower by 0.1 percentage points as compared with
the index of the same period of 2007. The consumer price index made
109% in January-December 2008 as compared with January-December 2007,
including the index of food commodity prices (including alcoholic
drinks and cigarettes) – 110%, of nonfood commodity prices – 105.1%,
and of service tariffs – 109%.

A 0.1% inflation was recorded in Armenia’s consumer market in
December on November 2008, which was mainly the result of seasonal
fluctuations of prices of some foodstuffs. Food prices (incliding
prices of alcoholic drinks and cigaretted) grew by 0.7%, nonfood
commodity prices fell by 2.3%, service tariffs grew by 0.2%.