YEREVAN, AUGUST 1, NOYAN TAPAN. 7.4% inflation in Armenian consumer market in January-May 2008 was followed by a 2.7% fall of prices in June-July. Prices fell by 2.2% in July on June. According to the RA National Statistical Service, prices of foodstuffs (including alcoholic drinks and cigarettes) fell by 4.4% in the indicated period, while prices of non-food commodities and service tariffs grew by 0.7% and 0.4% respectively. The consumer price index made 104.5% in July 2008 as compared with December 2007, including the index of food commodities (including alcoholic drinks and cigarettes) - 102%, that of non-food commodities - 104.9%, and service tariffs - 109%. The average monthly growth of consumer prices made 0.6% in January-July 2008, which exceeded the respective index of the same period of last year by 0.5%. The consumer price index (12-month inflation rate) made 110.7% in July 2008 on July 2007, including the index of food commodities (including alcoholic drinks and cigarettes) - 111.6%, of non-food commodities - 106.9%, service tariffs - 111.1%. The same indices in January-July 2008 on January-July 2007 made 109.2%, 111.2%, 105.1% and 107.7% respectively.

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