0.5% Price Decrease Recorded

The National Statistical Committee has published the consumer price index for Armenia for January-February 2020, indicating a 0.5% price decrease in the consumer market in February 2020 compared to February 2019. Furthermore, there was a 0.2% decrease in prices in February 2020 compared to January 2020.

In February 2020, the prices of food and non-alcoholic beverages dropped by 4.1% compared to the same month last year, while the decrease against January 2020 was 0.8%. The major contributors to this price drop were in the dairy, cheese, and egg products group, which saw a decrease of 4.4%, and meat products, which experienced a 1.1% decrease.

In the dairy, cheese, and egg products category, there was a significant price reduction of 7.6% in February 2020 compared to February 2019, and a 4.4% decrease compared to January 2020. Notably, the price of eggs fell by 25.9% compared to February 2019 and by 18.3% compared to January 2020.

A significant price drop was also observed in the sugar market, where there was a 13.2% decrease in prices for sugar and sugary products over the past year. Additionally, in February 2020, prices for vegetables and fruits decreased by 12.9% and 2.1%, respectively, compared to the same month last year. Prices for non-food products increased by 1.9% over the year, with a 0.8% inflation recorded for gasoline and a 1.6% decrease for diesel fuel.

In the services sector, in February 2020, there was a 1.4% increase in tariffs compared to February 2019, along with a 0.1% decrease compared to January 2020.