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Market Price Monitoring Bulletin (Issue No. 21: November 2023)

Author: WFP Armenia, RAM
From October 2022 to October 2023, US$ to AMD and RUB to AMD exchange rates remained low, but US$ to AMD saw a significant increase in October 2023. Remittances to Armenia in September 2023 totaled US$96.9 million, with Russia as the top contributor. Consumer Price Index (CPI) rose by 0.1 percent in October 2023 compared to October 2022, while food prices decreased by 3 percent. The highest annual price drops were in "Oils and fats" (19 percent) and "Bread and cereals" (8.4 percent) groups. Certain regions had higher food prices (Armavir and Ararat) and lower prices (Tavush, Lori, Kotayk, Shirak, and Syunik). In fuel prices, regular diesel decreased by 12 percent in October 2023, while petrol increased by 9 percent from October 2022. However, both diesel and petrol prices increased by 8 and 7 percent, respectively, compared to September 2023.

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 Rouble) 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.