Inflation: Armenian National Statistical Service reports price hike

Inflation: Armenian National Statistical Service reports price hike


The National Statistical Service of Armenia reports that consumer prices rose by up to two percent during August, reflecting a steady rise that has been influenced by inflation and by weather-related impact on produce and fruit.


It has been a particularly sour summer for fruit prices as this August saw melons, peaches, etc. cost and average of 35.6 percent more than the same month last year. For example, apricots that last year cost as little as 100 drams (27 cents), this year cost 1,000 ($2.70) – the hardest of crops suffering a late spring frost.


Also in August, food staples rose by 2.5 percent over July, with potatoes having risen to up to 250 drams (about 70 cents) per kilo, a 12.4 percent increase (due in part to late spring rot crop). As reported earlier this week, bread and wheat prices have risen by 7.1 percent in the past month, owing to a drought in Russia (from which Armenia get more than 80 percent of its imported grains).