Armenia recorded 12-month inflation of 1.7% in January 2024
YEREVAN, February 7. /ARKA/. In January 2024, compared to January 2023, inflation in Armenia amounted to 1.7%, and over the previous month, prices increased by 1.4%, according to the National Statistical Committee (NSC).
The NSC said in January 2024, compared to January 2023, prices for food products and non-alcoholic beverages rose by 2.5%, while over the previous month, they increased by 2.7%.
Alcohol and tobacco products increased in price by 3.7% over the year, and by 0.2% compared to December of the previous year. Prices for clothing and footwear in January 2024 decreased by 2.6% (a decline of 0.4% over the month), while utility prices increased by 0.4% (an increase of 1.3% over the month).
Prices for household goods, appliances, and daily apartment maintenance fell by 2.6% in January compared to the same month last year, and by 0.5% over the month.
The growth in prices in the healthcare sector in January was 3.2% (with a 0.2% increase over the month), and in the transport sector, the growth was 3.2% (with a 1.4% increase over the month).
The growth in the communications sector was 0.4% (with no change over the month). In the recreation and culture sector, prices decreased by 0.2% compared to January, but increased by 0.4% over the month. The education sector prices grew by 7.8% (with no change over the month), and the restaurant and hotel sector grew by 1.2% (with a 0.3% increase over the month). Various goods and services saw a 1.2% decline over the year, but a 0.7% increase over the month.
Meanwhile, according to statistics, prices on the non-food market in January 2025 compared to January 2024 decreased by 1.5%, and compared to December 2024, they decreased by 0.1%.
Additionally, the growth of prices for services in January 2025 was 2.6% compared to the previous year, and 1.1% over the month.
Economic growth in Armenia for 2025 is projected at 5.1% according to the state budget. According to the Central Bank's report on monetary policy for the fourth quarter of last year, Armenia's GDP growth is expected to range from 7.1% to 4.8% by the end of 2025, from 4.7% to 7% in 2026, and from 5% to 6.2% in 2027.-0-
