Armenia’s anti-monopoly commission submits market monitoring results to
state revenue committee

YEREVAN, March 10. /ARKA/. Armenia’s State Commission for the
Protection of Economic Competition (SCPEC) today submitted results of
the March 3-6 market monitoring to the State Revenue Committee.

After studying unreasonable price hikes in some of the local markets,
SCPEC filed lawsuits against several economic entities.

Last week, prices of sugar, butter, vegetable oil and some other
staples were higher in regions than in Yerevan.

SCPEC is carrying out a monitoring of regional markets as well.

On March 3, the Central Bank of Armenia (CBA) officially announced
retrieval of the floating currency exchange rate. According to CBA
experts, the average weighed Armenian dram/U.S. dollar exchange rate
mat range from 360 drams and 380 drams per $1.

Concerned about possible price hikes, people rushed to groceries and
supermarkets to buy up staples, creating a feverish demand for butter,
vegetable oil, sugar and other goods.

Making use of the situation, some traders increased staples prices in
local markets. After a scrutiny, SCPEC filed lawsuits against traders
of vegetable, butter, household appliances and medicines.
According to the commission, sugar and flour prices have returned to
their former notch in local markets. `0–

From: Emil Lazarian | Ararat NewsPress