Armenia food prices drop 6.1% this January compared to last January

Economy 12 February, 2024 23:18

Armenia food prices drop 6.1% this January compared to last January

The consumer price index in Armenia decreased by 0.9 percent in January 2024 compared to the same period last year, but increased by 1.2 percent compared to the previous month, December 2023, according to the data publicized by the Statistical Committee.

Prices of food and non-alcoholic beverages decreased by 5.8 percent this January compared to January 2023, but increased by 2.2 percent compared to December 2023. In addition, compared to January, food prices decreased by 6.1 percent, but compared to December, they increased by 2.3 percent.

The prices of alcoholic beverages and tobacco products increased by 7.4 percent in January of this year compared to January of the previous year, and by 0.3 percent compared to December 2023.

Among the food products, potatoes, which are widely consumed, have become cheaper the most. The respective deflation compared to January 2023 is 40.3 percent, and the situation is the same compared to last December.

In January 2024, compared to January 2023, a 19.5 percent deflation was recorded in the flour and cereals product group, and a 0.7 percent deflation compared to December 2023.

In the bakery and cereal product group, the deflation compared to January 2023 is 8.8 percent, and compared to December 2023—0.2 percent.

Pasta prices decreased by 11.9 percent this January compared to January 2023, and by 0.7 percent compared to past December.

The price of meat in the first month of 2024 decreased by 1.1 percent compared to the same period of 2023, but increased by 0.4 percent compared to December 2023.

The price rise in the whole milk product group was 3.4 percent in January compared to January 2023, and 1.1 percent compared to December.

Egg prices also increased, by 1.1 percent compared to January 2023, and by 2 percent compared to December.

Fish and seafood decreased in price by 6.5 percent compared to last January, and by 1.4 percent compared to past December.

Butter prices in the first month of the year decreased by 6.7 percent compared to the same period last year, and by 1.5 percent compared to December. As for margarine and vegetable oil, their deflation compared to January 2023 is 13.4 percent, and compared to December—0.8 percent.

The price of sugar in the first month of this year decreased by 5.8 percent compared to the first month of 2023, but increased by 0.5 percent compared to December.

Compared to January 2023, fruits have become cheaper by 0.8 percent, but compared to December, they have increased in price by 5.8 percent. The vegetable prices decreased by 11.6 percent in January of this year compared to January of the previous year, but increased by 12.4 percent compared to December.

Baby food became more expensive, by 1.4 percent compared to January 2023, and by 0.2 percent compared to December.

Soft drinks have also become more expensive in Armenia. Their prices have increased by 4.8 percent last month compared to January 2023.