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The sharp depreciation of Armenian national currency substantially affected the prices of goods in the country, head of Armenia’s State Commission for the Protection of Economic Competition Artak Shaboyan told reporters after the cabinet meeting on Thursday.

He added that “after the stabilization of the exchange rate, the prices dropped considerably.”

The Commission monitored the markets where major companies operate. These commodities include sugar, vegetable oil, butter, flour, oil, dairy products, egg and gasoline. “To study the pricing, the Commission requested additional information from business entities,” he said, adding that the monitoring continues.

Meanwhile, he said that the Commission is not monitoring the markets of nuts, meat products and apples, which are competitive due to a large number of companies.