Twelve-month inflation rise of 4.4% triggered by increase in prices of natural gas and electricity

Twelve-month inflation rise of 4.4% triggered by increase in prices of natural gas and electricity

YEREVAN, May 5. / ARKA /. The 12-month inflation rise of 4.4% in Armenia (from April 2013 to April 2014) was largely triggered by an increase in prices of Russian natural gas and electricity, according to Gurgen Martirosyan, head of a National Statistical Service (NSS) department.

Speaking at a news conference today, he said prices of foods grew by 2.6 %, prices of non-foods by 1.8%, and prices of services by 8.5%. He blamed these price hikes on increased prices of electricity and gas that came into force in 2013 July.

Martirosyan said a 30% rise in electricity price and an 18 percent rise in natural gas price resulted in a 2.5% rise in consumer price index.

The new electricity price that came into effect in 2013 July is 38 drams (including VAT) per kW/h for daytime (instead of the previous 30 drams) and 28 drams (including VAT) per kW/h at nights (compared to the previous 25 drams).

The new price of as for customers with monthly consumption of up to 10,000 cubic meters is  156,000 drams per every 1,000 cubic meters (including VAT), as compared to the previous 132,000 drams.  ($1 0 413.59 drams). -0-

15:40 05.05.2014

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