Consumer price index sheds 0.5 percent in Armenia

YEREVAN, March 4. /ARKA/. Consumer prices in Armenia slid 0.5% in February 2020, compared with the same month a year before, and 0.2, compared with January 2020, the National Statistical Committee reports. In January and February 2020, compared with the same two months a year earlier, consumer prices slipped 0.1%.  

According to the statistical report, foods and soft drinks became 4.1% cheaper in February 2020 than in February 2019, and 0.8% cheaper, compared with January 2020. Prices for spirits and tobacco products have increased 9.1% over one year and 4.3% over one month. Prices for clothes and shoes rose 3.5% in February 2020, compared with the same month a year before, but dropped 1.5%, compared with January 2020, and prices for utilities services went 1.2% up and 0.4% down respectively.  

Household appliances and devises have become 0.1% more expensive than one year ago and 0.3% more expensive than one month ago. Prices for services provided by the health sector rose 2.1% in February 2020, compared to February 2019, and 1.1%, compared to January 2020. Transport services became 2.1% more expensive and 0.8% cheaper respectively, education reported a 3.7% growth and 0% (no change) respectively, restaurant and hotel services rose 1.8% and slid 0.2% and other services 3% and 0.1% respectively.

Communications sector's services became 0.1 percent cheaper in February 2020 than in February 2019, but remained unchanged, compared with January 2020. Culture and leisure services rose 1.6 percent over one year, but shed 0.5% over one month. According to the statistical report, nonfoods rose 1.9% in February 2020, compared to February 2019, but slipped 0.2%, compared with January 2020.
Services rose 1.4% over one year, but shed 0.1% over one month.

In the government budget for 2020, economic growth is projected at 4.9% and inflation at 4% (±1.5%). -0-