Armenian consumer prices in January 2021 up 4.5% year-on-year

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Economy

26.02.2021, 12:03

In January 2021, consumer prices in Armenia grew by 4.5% compared to the same month in 2020, according to the National Statistical Committee (NSC). When compared to December 2020, consumer prices were up 2.2%.

Armenian consumer prices in January 2021 up 4.5% year-on-year

YEREVAN, February 26. /ARKA/. In January 2021, consumer prices in Armenia grew by 4.5% compared to the same month in 2020, according to the National Statistical Committee (NSC). When compared to December 2020, consumer prices were up 2.2%.

According to the NSC, prices for industrial goods in January 2021 were up 5.5% compared to January 2020 and compared to December 2020, they were up 1.1%.

Also, electricity production in January 2021 increased by 2.2% to 742.4 million kWh. Compared to December 2020, this indicator was up 1.3%.

Armenia's economy shrank last year by 7.6% from the previous year, according to official numbers.

In 2020, the economy grew only in the first quarter by 3.9% In the second quarter it dropped by 13.7% year-on-year, in the third quarter GDP fell by 9%, and in the fourth quarter - by 8.8%. In terms of money, GDP last year amounted to 6,183,742,1 million drams.

The Armenian government's initial growth projection for 2020 was 4.8%, but later it was revised downward to 6% and then to 7.9%. IMF predicted a 7.25% decline for Armenia's GDP in 2020, and 1% growth in 2021.

The government has projected 3.2% growth for 2021 and 4% (± 1.5%) inflation. ($1 - 524.48 drams). -0-

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