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Armenia - Market Price Monitoring Bulletin (Issue No. 20: October 2023)

Author: WFP Armenia, RAM

Between September 2022 and September 2023, the exchange rates for US$ and RUB against Armenian Dram (AMD) went down, with a slight increase in US$ to AMD in September. Remittances coming into Armenia in August 2023 amounted to US$202.3 million, with Russia, the USA, Germany, Sweden, and the UK being the top senders. Food prices dropped by 3.1 percent, with the most significant decreases in meat, fish, and cereals. In some regions of Armenia, food prices decreased notably. Diesel prices decreased by 19 percent, but petrol prices increased by 1 percent from the previous year. Unemployment was 11.7 percent, and the average monthly wage was AMD 261,234. The cost of a basic food basket was AMD 34,825, and the WFP Emergency basket was AMD 14,403 or $37, with specific nutritional content.

WFP carries out market analysis on a monthly basis to monitor the market situation in Armenia. Observing foreign currency exchange rates (namely US$ and Russian Ruble) and retail market price fluctuations, WFP assesses possible implications on the overall socio-economic situation and purchasing power of households. The bulletin contains descriptive information about the market prices of selected food and non-food items.