ArmInfo.In February 2021, the consumer market of Armenia recorded inflation of 0.6% with annual inflation of 5.3%, against deflation of 0.2% in February 2020 and annual deflation of 0.5%. According to the Statistical Committee of the Republic of Armenia, consumer prices in Yerevan in February 2021 increased by 0.5%, against a decline of 0.1% in February 2020.
February inflation was triggered by a rise in prices for food products (including alcohol and cigarettes) by 0.8% (against a decline in prices by 0.3% a year earlier), non-food products - by 1% (against a decline in prices by 0.2% a year earlier) and an increase tariffs for services- by 0.1% (against a decline of 0.1% a year earlier).
In y-o-y terms (February 2021 versus February 2020), inflationary 5.3% came mainly from the rise in prices for food products by 7.9% and non-food products - by 6.7%, with an increase in tariffs for services by 1.6%. To note for comparison that deflation was recorded in February 2020 versus February 2019 as a result of a decrease in prices for food products by 2.9%, with a rise in prices for non-food products - by 1.9% and an increase in tariffs for services by 1.4%. In January-February 2021, consumer prices increased by 2.8% due to the rise in prices for food products by 4.9% and non-food products - by 2.7%, with a 0.4% increase in tariffs for services. And in comparison with January-February 2020, inflation amounted to 4.9% against the background of the rise in prices for food and non-food products by 7.3% and 6.1%, respectively, with a 1.5% increase in tariffs for services. A year earlier, in January-February 2020, inflation was 1.2% due to an increase in the price of food products by 2.6%, with a decrease in the cost of non-food products by 0.5% and an increase in tariffs for services by 0.4%, and in comparison with January - February 2019, a deflation of 0.1% came from a decrease in the price of food products by 2%, a rise in prices for non-food products by 1.8% and an increase in tariffs for services by 1.4%.
