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Economy

Price hikes after Armenian dram's devaluation

The prices of several key food products and fuel have risen significantly in Armenia following the sharp depreciation of the national currency, the dram, RFE/RL reports.

The dram’s sudden drop immediately pushed up the retail prices of petrol and mainly imported foodstuffs such as cooking oil, sugar, butter and rice. In some grocery stores in Yerevan food prices were up by over 20 percent.