The UN Food and Agriculture Organization (FAO) included Armenia in the list of top ten countries with the highest food prices as of second half of 2010, Jean-Michel Happi, the World Bank Country Manager for Armenia, reported to News.am.
According to him, Armenia’s economy is rather open, which results in fast penetration of price increase from external markets. Bad weather conditions in Armenia also caused decline in agriculture and resulted in price increase for agricultural products.
The WB forecasts decrease in inflation rate, price rise will range between 4 to 5% against 9.4% in 2010.