Opinion: new-year buying craze at Armenia’s food markets to be weaker this year than that of 2010
14.12.2011,
00:06
New-Year buying craze at Armenia’s food markets will be weaker this year than that of 2010, Armen Poghosyan, chairman of the Association of Armenian Consumers, said on Tuesday.
YEREVAN, December 13. /ARKA/. New-Year buying craze at Armenia’s food markets will be weaker this year than that of 2010, Armen Poghosyan, chairman of the Association of Armenian Consumers, said on Tuesday.
The country’s food market showed slow but sustainable price rise throughout 2010. By the end of that year it speeded up and reached 8.8% in Jan-Nov. The most precipitous price hikes were seen at cheese and egg markets.
Poghosyan projected that prices in Armenia would climb 5-7% later this month.
According to official statistical reports, year-on-year inflation in the country stood at 4.8% in November 2011. This inflation was due to 6.4% increase in prices for foods, spirits and tobacco and 3.8% increase in nonfood prices.
Speaking about problems in this area, Poghosyan said that the government should tighten grip over monopolies to bar them from raising prices.
“Struggle for honest competition will inevitably be reflected in prices,” he said. -0-
The country’s food market showed slow but sustainable price rise throughout 2010. By the end of that year it speeded up and reached 8.8% in Jan-Nov. The most precipitous price hikes were seen at cheese and egg markets.
Poghosyan projected that prices in Armenia would climb 5-7% later this month.
According to official statistical reports, year-on-year inflation in the country stood at 4.8% in November 2011. This inflation was due to 6.4% increase in prices for foods, spirits and tobacco and 3.8% increase in nonfood prices.
Speaking about problems in this area, Poghosyan said that the government should tighten grip over monopolies to bar them from raising prices.
“Struggle for honest competition will inevitably be reflected in prices,” he said. -0-
