Twelve-month inflation in first quarter was 3.8 %, central bank says

Twelve-month inflation in first quarter was 3.8 %, central bank says

YEREVAN, May 27. / ARKA /. The twelve-month inflation in Armenia in the first quarter of 2014 was 3.8 %, the Central Bank said.

According to the regulator, this indicator was due exclusively to the growth of food prices by 2.3%, contributing 1.2 percentage points to the overall 12-month inflation. It said the prices of vegetables and potatoes surged by 22.6 %, which added 1.4 percentage points to the inflation rate.

Prices of meat products, animal and vegetable fats were said to have fallen by 2.8 % and 4.2 %, respectively, cutting by 0.4 percentage point the overall inflation. 

The Central Bank’s projection of inflation for this year is 2.5-5. 5%. The government’s projection is 4%. Its GDP growth forecast is 5.2%. -0-

16:42 27.05.2014

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