Armenian premier instructed anti-trust regulator to look into price rises

In the last days commodity prices rose by an average of 10% in Armenia due to both the national currency depreciation and expectations ahead of the country’s EEU membership, experts say. 

“I have already received a report from you saying inflation levels have been within 5% recently, but allegations and rumors among the population suggest inflation is 10-15%. In order to disperse these doubts, please submit a report about rise in commodity prices over the last 10 days at the government meeting next Thursday”, the premier told Shaboyan. 

Yesterday the speaker of the Armenian parliament Galust Sahakyan said the authorities express their concern over the price rise in Armenia. Price rise is caused by the New Year rush, he said. 

The speaker also said the authorities are using instruments to scotch inflation, and the outcome of this will be seen after December 15. 

The antitrust watchdog said prices rose mainly for imported goods due to the recent currency fluctuations. Increase was recorded in prices for sugar, butter, vegetable oil, flour and lentils. According to the regulator, prices for milk products remained unchanged. 

The central bank said Armenia’s gross international reserves rose by 0.5% over the month to $1,671 million in October 2014. 

Dollar versus Armenian dram rate hit the eight-year high, having jumped by 16.6 points to 435 drams per $1 in the period from November 21 to November 24. The rate was up at 422.33 drams per $1 on December 2. –0--