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INFLATION FOR ARMENIA'S INSECURE FAMILIES IS 20 PERCENT: EXPERT
YEREVAN, August 16. / ARKA /. The inflation for Armenia's vulnerable
families in the second quarter of the year amounted to about 20%,
according to a management expert Harutyun Mesrobyan, who told a news
conference today that inflation rate is contingent on which methodology
is used to gauge it.
"If we remove from the vulnerable families' subsistence basket goods
which we do not buy everyday, we will have quite a different situation
with the inflation rate; in fact it will be several times higher than
the official figures," he said.
He said almost 1.1 million of the population spends their money mainly
on food and utility bills and this is why the subsistence basket for
insecure families should have 50-60 names of goods.
According to him, the prices of agricultural products have surged
threefold over the past year, and besides the prices of gas and
electricity have also risen. According to the expert, the official
inflation rate practically affects only the wealthy citizens who make
up about 10% of the population.
The subsistence basket, calculated on the basis of the consumer price
index, includes 470 various goods.
According to the Central Bank of Armenia, headline
inflation rose by 0.4 percent in July for an annual rate
of 8.5 percent, up from 6.5 percent in June, fuelled by an
increase in electricity and gas prices. -0- - See more at:
http://arka.am/en/news/economy/inflation_for_armenia_s_insecure_families_is_20_pe rcent_expert/#sthash.FV2Qkphq.dpuf
YEREVAN, August 16. / ARKA /. The inflation for Armenia's vulnerable
families in the second quarter of the year amounted to about 20%,
according to a management expert Harutyun Mesrobyan, who told a news
conference today that inflation rate is contingent on which methodology
is used to gauge it.
"If we remove from the vulnerable families' subsistence basket goods
which we do not buy everyday, we will have quite a different situation
with the inflation rate; in fact it will be several times higher than
the official figures," he said.
He said almost 1.1 million of the population spends their money mainly
on food and utility bills and this is why the subsistence basket for
insecure families should have 50-60 names of goods.
According to him, the prices of agricultural products have surged
threefold over the past year, and besides the prices of gas and
electricity have also risen. According to the expert, the official
inflation rate practically affects only the wealthy citizens who make
up about 10% of the population.
The subsistence basket, calculated on the basis of the consumer price
index, includes 470 various goods.
According to the Central Bank of Armenia, headline
inflation rose by 0.4 percent in July for an annual rate
of 8.5 percent, up from 6.5 percent in June, fuelled by an
increase in electricity and gas prices. -0- - See more at:
http://arka.am/en/news/economy/inflation_for_armenia_s_insecure_families_is_20_pe rcent_expert/#sthash.FV2Qkphq.dpuf