World prices drop, Armenian prices growThe continuous rise in prices for foodstuff will hit the Armenian residents in their wallets. 1% inflation was registered in the Armenian consumer market in May 2010, prices for foodstuff rising by 1,8% and for nonfoods by 0,9%. The inflation is mostly being explained by the rise in prices for fruit and vegetables by 10,4-16,7%. According to statistical data, the consumer price index made 106,3% as compared to the same period of 2009. June 5, 2010 PanARMENIAN.Net - According to former chairman of the Central Bank of Armenia, Bagrat Asatryan, the inflation rate in Armenia is much higher than it is presented in the official statistical data. “Real inflation is estimated by market data or GDP index-deflator, which increased by 10% in May 2010, as compared with the same period of 2009,” Asatryan said. “Prices for foodstuff are decreasing worldwide, while in Armenia they continue growing.” Actually, prices for foodstuff go down across the globe. According to the Chicago Mercantile Exchange, the price for wheat reduced by 5% in January-March 2010 and by 15,6% against the same period of 2009. The prices for rice dropped 7,5%; prices for sugar fell by 5%. Meanwhile, Armenian oligarchs still determine prices in the republic, “neutralizing” the small and medium-sized businesses. The most vivid example of monopolization is the fuel market, where prices for petrol and diesel fuel grew by 31% and 34% respectively, with international prices for oil remaining the same. The Armenian population is most of all concerned about the prices for foodstuffs, specifically vegetables, which went up by 11,1% in May 2010 as compared to April. The price for potato were inflated by 47,2%, for pepper by 9,9%, for beetroot by 21,7%, for cabbage by 33,2% and for carrot by 73,5%. Experts say the price for potato will be 30% higher next year, due to reduction of crops in Shirak and Gegharkunik regions. The prices for foodstuffs in Armenia are higher than international while the salaries and pensions are much lower. The average salary in April totaled AMD 108035 (USD 274, 204 euro or 7985 rubles); pension makes AMD 26 thousand. At that, the minimal basket of goods is AMD 37,3 thousand . So, it’s not surprising that the poverty in the republic is persisting, reaching 25% of the total number of the population. Hripsime Hayrapetyan / PanARMENIAN News Most popular in the section Armenia’s “useless” manpower Small and medium sized businesses weigh in on consequences of war Hybrid banknotes New markets opening for home-grown products More articles in this section 4 rules for business success An ultimate guide Reduction of personnel and tax collection growth State Revenue Committee changes its policy Countries and goods that boosted Armenian export in 2016 Record figures | Scholz hopes Armenia-Azerbaijan peace treaty will be signed this year German Chancellor Olaf Scholz hopes that a peace treaty between Armenia and Azerbaijan will be signed this year. Ucom equips four bus stops in Ijevan with free Wi-Fi Ucom now provides free Wi-Fi coverage in smart bus stops in four communities of Ijevan. Armenians stage more campaigns against territorial concessions to Azerbaijan Protesters blocked more roads across Armenia on Friday, April 26 in continuing attempts to scuttle territorial concessions to Azerbaijan. Czech-Armenian military cooperation discussed in Yerevan A delegation led by the Director General for the Industrial Cooperation Division of the Ministry of Defence of the Czech Republic visited Armenia. |