The Cost of the Consumer Basket Exceeds the Minimum Wage

The cost of the consumer basket in Armenia has significantly increased on a monthly basis. According to the ‘Zhoghovurd’ newspaper, the value of the minimum consumer basket, based on average current prices in the second quarter of this year, amounted to 70,044 drams per month. The cost of the food basket constituted 37,861 drams per month. In contrast, in the first quarter of this year, the consumer basket was valued at 66,568 drams per month.

‘Zhoghovurd’ calculated the prices of essential food items. For instance, according to the Statistical Committee, the value of consumed food per adult for a month was only 37,861 drams. This amount includes items such as bread, meat, fish, dairy products, eggs, oil and fat, fruits, vegetables, potatoes, sugar, non-alcoholic beverages, and other food products. It was noted that the daily actual consumption per person includes 461 grams of bread, 48.3 grams of meat, 18.6 grams of eggs, and so on.

As an example, the price of 100 grams of beef in Yerevan supermarkets exceeds 300-400 drams, while 100 grams of ‘Ishkhan’ fish costs around 270-300 drams. Two eggs can reach up to 80 drams, and 90-100 grams of bread fluctuates around 150 drams. Additionally, it should be noted that the average pension in our republic is 43,590 drams, and the minimum wage is 68,000 drams, meaning that people cannot even afford the minimum food requirements. Thus, it turns out that the cost of the consumer basket exceeds the minimum wage amount,” the newspaper writes.