Armenia’s annual inflation in September was 1.5%, down from 8.6 percent in Customs Union
20.10.2014,
15:50
Armenia’s inflation in September 2014 grew by 1.5 percent from the year before, while the average inflation rise in the Customs Union of Russia, Belarus and Kazakhstan in the same time span was 8.6%.
YEREVAN, October 20. / ARKA /. Armenia’s inflation in September 2014 grew by 1.5 percent from the year before, while the average inflation rise in the Customs Union of Russia, Belarus and Kazakhstan in the same time span was 8.6%.
According to the National Statistical Service of Armenia, inflation in January-September 2014 was 2.9% higher from the same time span a year before. In September this year it grew by 0.4 percent from the previous month.
According to the Eurasian Economic Commission, the highest inflation rate of 20.1 percent in September 2014 compared to 2013 September was recorded in Belarus. Consumer prices in Belarus rose by 1.2% in 2014 September from the previous month.
Russia’s consumer prices in 2014 September grew by 8 percent from the year before, while prices in 2014 September grew by 0.7% from 2014 August.
In Kazakhstan, consumer prices in 2014 September rose by 7.4% year-on-year, while compared to August of this year the rise was 0.5%.
Annual prices of services in Belarus in 2014 September surged by 34.5%, prices of non-foods in Kazakhstan grew by 8.4% and food prices in Russia grew by 11.4%, according to official figures.
For comparison, the inflation rate in euro zone in the same time span (2013 September- 2014 September) was 0.3 percent, driven mainly by rise in prices of services, which grew by 1.1 percent.
On October 10 Armenia joined the Eurasian Economic Union. The agreement was signed by the heads of Russia, Belarus, Kazakhstan and Armenia in Minsk, Belarus.
The agreement on the establishment of the Eurasian Economic Union was signed in May by the leaders of Russia, Belarus and Kazakhstan. It comes into force in 2015. -0-
