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Food Prices Grow By 7.2% In Armenia In January-March 2008

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  • Food Prices Grow By 7.2% In Armenia In January-March 2008

    FOOD PRICES GROW BY 7.2% IN ARMENIA IN JANUARY-MARCH 2008

    Noyan Tapan
    April 1, 2008

    YEREVAN, APRIL 1, NOYAN TAPAN. 7.2% overall inflation was registered
    in Armenia's food commodity market in January-March 2008. Inflation in
    March on February made 2%. 0.1-6.9% inflation was registered in 10 out
    of 13 food commodity groups under observation in the indicated period.

    According to the RA National Statistical Service, the growth in
    bread prices made 33.3% in March 2008 on March 2007, 6.8% in March on
    February 2008. The latter was mainly conditioned by a rise in prices of
    first-class flour (7.5%) and high-quality flour (12.6%). First-class
    bread prices grew by 5.9%, high-quality bread prices - by 7.5%,
    prices of macaroni by 3.1-3.2% in the indicated period.

    Price growth in the commodity group of butter and vegetable oil
    made 32.3% in March 2008 on March 2007, 4.8% in March on February
    2008. The latter was mainly due to a rise in prices of butter (5.7%)
    and vegetable (sunflower) oil (6.2%).

    There was 6.9% inflation in the commodity group of coffee, tea and
    cocoa in March on February 2008, mainly due to 12.2% growth in price
    of ground coffee. The average price of eggs rose by 2.1% in March on
    February 2008.

    Inflation in the commodity group of meat products made 0.5% in March
    on February 2008, mainly due to a growth in prices of pork (7.4%)
    and mutton (11.8%). Beef prices fell by 0.3% in the indicated period.

    Granulated sugar prices rose by 1.2% in March on February
    2008. 0.1-0.3% inflation was registered in the same period in the
    commodity groups of soft drinks, alcoholic drinks and cigarettes,
    milk products, other foodstuffs, and confectionery.

    Prices of vegetables and potato grew by 5.6% in March 2008 on March
    2007 and fell by 4.7% in March on February 2008. The latter was mainly
    conditioned by a fall in prices of chives (24.1%), cucumber (14.2%),
    cabbage (12.5%), beet (7.5%), and tomato (7%). Price of onion fell by
    3,1%, while prices of gralic, potato, and carrot increased by 0.3-3.7%
    in the indicated period.

    21.6% price fall was registered in the commodity group of fish products
    in February-March 2008. Fish prices fell by 4.6% in March on February
    2008. The fall in prices of smoked and fresh white fish made 14.9%
    and 4.5% respectively in the indicated period.

    There was 5.7% inflation in the fruit commodity group in March 2008
    on March 2007, 2.1% price fall in March on February 2008. The latter
    was mainly due to a 5.5-14.4% fall in prices of grapes, pear and
    apple. Prices of lemon, tangerine, orange and banana grew by 0.8-10.2%
    in the period under review.
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