Revenue from the sales of agricultural products in 2018 has increased compared to the 2014‐2017 period, both in percentage and absolute terms. Increased production is the most likely reason for this result. Another possible explanation would be that other sources of income aside from selling agricultural products contributed to households’ income, but since there were no significant structural changes observed in the country in recent years, increased production is most likely responsible for the increased sales revenue.
As to the prices, for food and non-alcoholic beverages, the month-over-month prices increased by 1.2%, contributing 0.37 percentage points to the change in total CPI. The main drivers were price fluctuations in the following sub-groups: vegetables (+8.1%), fruit and grapes (+7.1%) and milk, cheese, and eggs (-5.7%).
From an annual perspective (May 2019 vs. May 2018), the prices of food and non-alcoholic beverages increased by 7.9%, contributing 2.43 percentage points to the change in total CPI. In May 2019, the sharpest price changes on an annual basis were observed within the following subgroups: vegetables (+33.7%), fish (+13.5%) and fruit and grapes (-19.9%).
Source - ISET-PI
