IMF: Inflation in Armenia expected to subside to 7%
30.09.2010,
16:34
Inflation in Armenia may subside to 7% later this year, Guillermo Tolosa, IMF resident representative in Armenia, said Wednesday at a news conference.
YEREVAN, September 29. /ARKA/. Inflation in Armenia may subside to 7% later this year, Guillermo Tolosa, IMF resident representative in Armenia, said Wednesday at a news conference.
“With nearly half the weight in the consumer price index, higher food prices have pushed annual inflation to 9.6 percent in August,” he said.
National Statistical Service of Armenia says the country faced 7.7% inflation in Jan-Aug 2010, compared with the same period a year earlier.
Tolosa said that the contraction of agricultural output, together with the spike in imported wheat prices, had translated into higher food prices.
He said that natural inflation considered without taking into account fluctuating prices for goods stays at 5 percent now.
The IMF resident representative thinks that if impacts of adverse weather conditions lessen, prices for agricultural products will go down.
He said that the IMF sees no outside adverse factors able to affect things in Armenia and believes that wheat prices will return to former levels after spring 2011.
In the 2010 government budget, annual inflation is planned at 4% (±1.5%). -0-
“With nearly half the weight in the consumer price index, higher food prices have pushed annual inflation to 9.6 percent in August,” he said.
National Statistical Service of Armenia says the country faced 7.7% inflation in Jan-Aug 2010, compared with the same period a year earlier.
Tolosa said that the contraction of agricultural output, together with the spike in imported wheat prices, had translated into higher food prices.
He said that natural inflation considered without taking into account fluctuating prices for goods stays at 5 percent now.
The IMF resident representative thinks that if impacts of adverse weather conditions lessen, prices for agricultural products will go down.
He said that the IMF sees no outside adverse factors able to affect things in Armenia and believes that wheat prices will return to former levels after spring 2011.
In the 2010 government budget, annual inflation is planned at 4% (±1.5%). -0-
