PRICES OF NOT ALL LIVING ESSENTIALS CHANGE SINCE RETURN TO FLOATING EXCHANGE RATE

Noyan Tapan

M arch 4, 2009

YEREVAN, MARCH 4, NOYAN TAPAN. The checks conducted by the RA State
Commission for Protection of Economic Competition showed that prices
of not all the living essentials have changed since the return to a
floating exchange rate. The Commission’s chairman Ashot Shahnazarian
announced at the March 4 press conference that there were 10-12%
changes in prices of some goods.

According to him, there was a rise in prices of 4 out of 40 goods
subjected to monitoring: vegetable oil, some sorts of butter,
granulated sugar (its price rose by 30 drams to 250 drams), "premier"
gasoline (by 50 drams). It should be mentioned that granulated sugar
was sold for 320 drams in some shops. The Commission’s chairman
advised citizens not to buy granulated sugar at such a high price
but to go to a nearby shop and buy sugar for 250 drams.

He said that after the March 3 statement of the chairman of the
Central Bank of Armenia, there were attempts by some big importers
to create an artificial deficit. However, a representative of the
Commission held negotiations with them and warned them, as a result
of which prices of some goods even fell during a few hours.

A. Shahnazarian said that if prices of some goods continue rising,
starting from tomorrow the Commission will pass from the stage of
warnings to the stage of initiating procedures. He once again advised
citizens not to panic.

At the same time it was mentioned that it is likely that prices of
imported goods will increase by 20-25% in 2-3 months after stored
goods are used up.