The RA State Commission on the the Protection of Economic Competition of has registered an ungrounded price increase on butter, vegetable oil, medicaments, and household appliances in markets, Ashot Shakhnazaryan, head of RA State Commission on the Protection of Economic Competition said during the briefing in Yerevan. Administrative investigations will be conducted against a number of entrepreneurs who have increased the prices. We have received a lot of complaints from the citizens regarding the price increase for these very goods. For instance, we learnt that the medicament importers, by mutual consent, decided to raise the prices by 25% at once. The State Commission on the Protection of Economic Competition will proceed with the monitoring for another two weeks and the list of negligent entrepreneurs will be handed over to the Committee on State revenue .This body will take care of the law breakers within its power, Ashot Shakhnazaryan emphasized.

As the head of the Commission assured there are no grounds for panic. We observe how the dollar rate is gradually falling: 350-360drams per $1.Tomorrow already the consumers will notice the fall in the prices on petrol and diesel fuel, remarked Shakhnazaryan. At the same time he emphasized that Armenia is a country of free economic competition, and the price increase on staple food products may be related to the price changes in international markets.