Devaluation of dram causes increase in bread price in Armenia

Tue 12 Feb 2019 08:32 GMT | 12:32 Local Time

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Bread prices went up in Armenia again driven up by the devaluation of the Armenian national currency, the Zhamanak newspaper reported.

According to the newspaper, the flour price is driven up by the devaluation of the Armenian national currency – the more the dram slips the more the flour price rises.

The thing is that flour in Armenia is sold at wholesale for dollars. Bread and other bakery products are expected to jump because of the price hike in flour market, which will strike hard at low-income categories of the country’s population, ARKA reported.

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