No permit given to some Armenian producers to raise goods prices as dram devalues: expert

06.06.2012 17:45
No permit given to some Armenian  producers to raise goods prices as dram devalues: expert

YEREVAN, June 6. /ARKA/. Some Armenian producers artificially and without any permit increase prices for goods taking advantage of Armenian dram recent devaluation and lack of public awareness, Alternative analytical center director, economist Tatul Manasaryan said on Wedensday.
“As we didn’t report any significant fluctuations in prices for the imported goods, and in some cases their prices are even tumbling, some local producers raise the prices for their goods artificially,” he said at the press conference mentioning rise in prices for cement.

According to Manaseryan, these facts should be taken into account by the State Commission for Protection of Economic Competition of Armenia.
On his side, the former Chairman of the Central Bank of Armenia Bagrat Asatryan added that gas prices created some paradoxical situation in the country.
“Today global oil prices shrank by nearly 25%, and in Armenia- just by 10 drams, that is about 2%,” he underlined.

Over the recent two weeks the Armenian national currency has devaluated against the U.S. dollar by 14.93 drams or 3.4% (from 393.41 to 406.75 drams per $1). The maximum high rate of the USD against AMD was recorded on May 29 (406.75 per $1).

According to the data compiled by the National Statistical Service of Armenia, the inflation rate reported 5% in May of this year from the same month a year earlier. This is explained by the rise of prices for non-food goods by 4%, and service tariffs – by 1.7%. ($1 – 408.34 drams).  —0—

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