Potato Prices Surge 71.4%: Which Items Have Increased the Most in Armenia?

In February 2022, compared to January, the consumer price level in the capital rose by 0.2%. Despite Armenian Prime Minister Nikol Pashinyan stating during a recent government meeting that Armenia is in a better position regarding inflation than many countries, it has not been immune to price increases.

Auroranews conducted a small study to understand the impact of inflation on the capacity of the consumer basket over the last two months and the extent of price increases compared to January-February of the previous year.

According to recent data from the National Statistical Committee of Armenia, there was a significant price increase in the vegetable market in January-February 2021, reaching 31%.

For example, in February 2022, the price of fresh cabbage increased by 3.8 times compared to February 2021; however, it recorded a 5.6% decrease compared to January of the same year. In February 2022, potato prices increased by 71.4% compared to February 2021 and 8.3% compared to January 2022.

It's worth noting that in February of this year, compared to January, the overall price decline in the fruit and vegetable category was 1.95%. The published data indicate that the consumer basket in Armenia has become considerably more expensive on a monthly basis.

When highlighting various food items, it should be noted that during these two months, only egg prices saw a slight decrease. The price of eggs in February 2022 dropped by 1.0% compared to the previous year's February and by 11.0% compared to January 2022.

In February 2022, butter prices rose by 7.8% compared to February 2021, but there was a 1.0% decrease compared to January 2022. The sugar and sugar product category saw an 18.2% price increase compared to February 2021, although there was a 0.3% decrease compared to January 2022.

Cheese prices in February 2022 rose by 17.2% compared to February 2021 and by 1.8% compared to January 2022. Significant price increases were recorded for poultry, lamb, beef, and pork, which rose by 6.8%, 7.6%, 8.0%, and 31.8%, respectively. For instance, pork prices were 3000-3200 AMD in 2021 but now average around 3700 AMD.

Regarding bakery products, a 10.1% increase in bread and grain prices was noted in the Republic. Furthermore, non-food products also saw significant price hikes. Comparisons with previous months indicate that clothing, furniture, electrical and non-electrical appliances, and numerous other household goods have become more expensive. Only pharmaceutical products experienced a price decline.

In six surveyed cities of the Republic (including the capital), prices for non-food products increased in February compared to January.

There is also a significant rise in the gasoline market. In February 2022, gas and diesel fuel prices increased by 31.2% and 44.6%, respectively, compared to the previous February, while a 3.4% decrease in gasoline and a 2.1% increase in diesel were noted compared to December 2021.