Annual Inflation in Armenia Stands at 1.6%: Statistics Committee

The annual inflation rate in the consumer market of the Republic of Armenia for November 2020 compared to November 2019 has been recorded at 1.6%, while the monthly inflation rate (November 2020 compared to October 2020) stands at 1.3%, as reported by the Statistics Committee.

In all observed cities of the Republic, consumer prices increased by 1.0-1.5% in November 2020 compared to October, with relatively higher inflation noted in the towns of Ashtarak and Gavar. In the capital city, consumer prices rose by 1.3%.

In November 2020, compared to November 2019, there was a recorded inflation of 0.8% for food and non-alcoholic beverages, while the inflation rate compared to October 2020 was 2.8%. The latter was primarily driven by price increases of fruits, dairy products, sugar and sugar products, oils and fats, and vegetables ranging from 1.9% to 20.5%.

Within the vegetable category, a price decrease of 9.2% was recorded in November 2020 compared to November 2019, while the price increase compared to October 2020 was 20.5%. The oils and fats category saw an increase of 7.0% compared to November 2019, while prices increased by 2.5% compared to October 2020 (the average price increase for sunflower vegetable oil in November 2020 was 20.9% compared to November 2019, and 5.9% compared to October 2020).

In the dairy, cheese, and egg category, a price increase of 2.6% was recorded in November 2020 compared to November 2019, with a 2.0% increase compared to October 2020. The price of eggs increased by 6.0% in November 2020 compared to the same month in 2019, and by 7.6% compared to October 2020. In the sugar and sugar products category, inflation reached 26.6% compared to November 2019, and a 2.0% increase compared to October 2020.

In the fruit category, a price increase of 9.7% was noted in November 2020 compared to November 2019, alongside a 1.9% increase compared to October 2020. Consumer prices for clothing and footwear decreased by 1.6% in November this year compared to the same month last year, while increasing by 1.9% compared to October 2020.