Deflation in Armenia

[Arsen_]

There is inflation in majority of countries in the world while in Armenia deflation.

As Federal State Statistics Service of Russia reported since the beginning of 2018, consumer prices in Russia increased by 2.9%, and in the EU - by 1.8%. The largest increase in prices was observed in Turkey and Ukraine - 22.6% and 7.4%. In Armenia prices have fallen since the beginning of the year.



1 Turkey 122.6
2 Ukraine 107.4
3 Malta 104.5
4 Estonia 104.5
5 Belarus 104.2
6 Brazil 103.8
7 Kazakhstan 103.7
8 Hungary 103.5
9 Cyprus 103.5
10 Norway 103.4
11 Romania 103.2
12 Latvia 103.1
13 Russia 102.9
14 Luxembourg 102.7
15 Belgium 102.6
16 Bulgaria 102.6
17 United States 102.6
18 Lithuania 102.5
19 Canada 102.5
20 Netherlands 102.4
21 Greece 102.3
22 Republic of Korea 102.3
23 Slovakia 102.2
24 China 102.2
25 Portugal 102.1
26 Croatia 102.1
27 Spain 102.0
28 Slovenia 102.0
29 France 102.0
30 Czech Republic 101.9
31 Sweden 101.8
32 United Kingdom 101.7
33 Austria 101.6
34 Germany 101.4
35 Denmark 101.4
36 Finland 101.4
37 Ireland 101.3
38 Switzerland 101.2
39 Poland 100.9
40 Armenia 99.3

[Arsen_]

Deflation recorded in Armenia in 2019

The highest inflation rate since the beginning of the year among the countries of the Eurasian Economic Union (EAEU) following the results of July 2019 was recorded in Belarus - 3.1%.

Since the beginning of the year, inflation in Kazakhstan amounted to 2.8%, in Russia - 2.7%, Kyrgyzstan - 0.3%,
in Armenia - a deflation of 1.8% was recorded.

The cost of food products in Armenia decreased by 4.5%.

The cost of food products increased in Belarus - by 2.8%, Kazakhstan - by 6%, Kyrgyzstan - by 1.6%, Russia - by 2.7%.

The most significant increase in prices for non-food products was recorded in Kazakhstan - 2.4%, for services - in Belarus (4.8%).

https://regnum.ru/news/economy/2689879.html

[16coresCasual]

Is Armenia buying gold? I know that Chinese and Russian central banks are buying it while some countries like Canada have none. Less than 1 tonne. Economic recession is coming and while it will hit mostly U.S it will be felt in a lot of other places too. Gold and silver price should rise just like in 2011 but this time even more

[Loki]

Deflation is really bad, it stifles an economy. For example, it has troubled the Japanese economy for some years now...

[Loki]

Is Armenia buying gold? I know that Chinese and Russian central banks are buying it while some countries like Canada have none. Literally 0 tonnes. Economic recession is coming and while it will hit mostly U.S it will be felt in a lot of other places too. Gold and silver price should rise just like in 2011 but this time even more

That's really bad of Canada. Gold is like an insurance policy in troubled times. Every nation should have gold reserves. Unfortunately, Gordon Brown sold off most of England's gold reserves over a decade ago to bail out an American investment bank's gold short positions. That was criminal, I hope he gets prosecuted over it.

[Arsen_]

Is Armenia buying gold? I know that Chinese and Russian central banks are buying it while some countries like Canada have none. Less than 1 tonne. Economic recession is coming and while it will hit mostly U.S it will be felt in a lot of other places too. Gold and silver price should rise just like in 2011 but this time even more

As far as I remember about 12-13 years ago Armenia sold all its gold reserves. But now Armenia’s leadership has made a political decision to restore the country's gold reserves. Today, Armenia produces 4-5 tons of gold annually, and after the launch of new facilities, its volume will reach 10-12 ton. Also recently a chairman of the Central Bank anounced that Armenia will soon start producing gold bars - a gold refinery factory will be established, and that all the equipment has already been purchased.

[Arsen_]

Deflation is really bad, it stifles an economy. For example, it has troubled the Japanese economy for some years now...

I like when prices fall and you can buy something cheaper than before and to be honest I hate the opposite situation. For example last years in Russia food is getting more expensive and that is not good at all!

[Loki]

I like when prices fall and you can buy something cheaper than before and to be honest I hate the opposite situation. For example last years in Russia food is getting more expensive and that is not good at all!

Yes but you don't understand, you can ask any Japanese what deflation has done to their country's economy... or ask any economist if it's a good thing. It isn't. Or look at the Japanese stock market, the Nikkei average... how it has performed over the last few decades. It used to be bigger than the American Dow Jones Industrial Average, but now it's about the size of a European country.

[Arsen_]

Rating of the CIS countries and Eastern Europe by inflation

July 2019. Infographics. The greatest deflation was in Armenia, and from the EU countries - in Latvia.



For the period from the beginning of the year, for 7 months, only 2 countries did not allow price increases - this is the same Armenia, as well as the Federation of Bosnia and Herzegovina. In all other states, inflation of various sizes accumulated in January – July.



https://banki24.by/news/3534-reyting-stran-sng-i

[Arsen_]

Deflation continues in Armenia

The greatest deflation in the world in 2019 was in Armenia. The same situation continues this year.

Armenian Prime Minister Nikol Pashinyan presented some facts during an online press conference on Saturday.

All over the world food prices are rising, and only in Armenia food prices are falling.

The average retail price of butter in 2018 amounted to 4383 drams, in 2019 - 3906 drams, and as of today, 3680 drams. Compared to 2018, deflation was 16%.

Over the past two years, sugar prices have declined by about 24%. "In particular, as of May 2018, 1 kg of sugar cost 335 drams, and in 2020 it costs 255 drams," Pashinyan said, explaining that the same applies to granulated sugar.