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Inflation of Consumer Prices in Armenia in November

A 1.6% increase in Nov. 2010 as compared to Oct. 2010 has been registered in the RA consumer market, which is mainly the result of a 3.1% rise in the cost of food products (which also includes alcoholic beverages and tobacco), reports the National Statistical Service of the Republic of Armenia (RA). The cost of non-food products rose by 0.5% in the same period, while a 0.3% decline in prices in the service sector was noted. 

An increase of 3.3% in the price of food products (not including alcoholic beverages and tobacco) was recorded in Armenia in Nov. 2010 as compared to Oct. 2010, which is mainly the result of a 3.8–12.8% increase in the price of sugar, seafood, animal and plant oils, eggs, milk products, vegetables and potatoes (in particular). Out of the 13 food items surveyed, a price increase of 0.1–12.8% was evident in 11 of them, while a decline of 0.1% was evident in the price of the remaining two foodstuffs. 

In the same time period, a price increase of 0.5% was registered for non-food items, mainly due to an increase of 1.2% in fuel, 1.4% increase in cultural goods, 1.6% increase in jewelry products, and 2.9% increase in woven goods. The price of the following goods rose by 0.1–0.3% in the same timeframe: carpets and rugs, kitchen utensils, building materials, stationery, shoes, textiles, and health and beauty products. 

The monthly average growth of consumer prices from Jan.–Nov. 2010 was 0.7%, which rose by three percentage points as compared to the same period last year (0.4%).

Consumer prices in all cities in Armenia in Nov. 2010, as compared to Oct. 2010, rose by 1.4–2.6%, including in the capital, Yerevan, which saw an overall price increase of 1.4%.