YEREVAN. – Even state officials no longer hide the fact that after Armenia’s accession to the Customs Union (CU), an increase in prices will be recorded in the country, Haykakan Zhamanak daily reports.

“And, first and foremost, this relates to essential food products. 

“No official agency has yet calculated as to how much the prices will rise. But there already are some expert analyses according to which, solely ‘owing’ to becoming a CU member, imported food will increase by at least 7-8 percent. In the case of non-food products, the inflation will be up to 12 percent.

“This is due to the fact that Armenia’s customs tariffs are in line with the western model and the maximum customs duty is 10 percent, whereas the customs duties within the Customs Union reach up to 25 percent.       

“If we consider that solely 24 percent of the current imports to Armenia are from the CU countries, the expectations of such an increase in prices become more than real,” Haykakan Zhamanak writes.