Yerevan /Mediamax/. The price growth speeds in Armenia are twice lower than the world ones//, the Chairman of the State Commission on Protection of Economic Competition of Armenia Ashot Shakhnazarian stated.

Mediamax reports that Ashot Shakhnazarian said this, speaking in Yerevan today at the joint news conference with the Minister of Trade and Economic Development of Armenia Nerses Yeritsian.

As the Minister stated, according to the price monitoring, realized by the order of the Prime Minister, in the first ten days of March, the National Statistical Service of Armenia registered growth of prices for vegetable oil and grain products. According to him, flour on average rose in price for 11-12% and the bread – 8-10%.

Nerses Yeritsian explained the growth of prices for vegetable oil by the growth of prices for the product in the world market. Touching upon the growth of prices for bread, the Minister noted that the cost of the imported grain did not change. “To reveal the reasons for such a phenomenon, the Prime Minister ordered us to study in detail the whole chain of bread production”, Yeritsian stated.

At the same time, according to him, despite the growth of world prices for sugar, the local prices for the given product continue going down.

Ashot Shakhnazarian informed that because of the growth of world prices for rice, wheat and vegetable oil, the current prices for the given products will be preserved in Armenia till the first summer harvest. Then, according to him, gradual fall in prices is expected.

Ashot Shakhnazarian noted that because of gaps in the legislation, the state is not realizing the price police quite effectively, and informed that in the nearest future the State Commission on Protection of Economic Competition will turn to the government with the corresponding proposals.