Consumer prices in Armenia increase by 0.2% in 11 months

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Economy

25.12.2024, 13:14

According to preliminary data, consumer prices in Armenia increased by 0.2% in January-November 2024 compared to the same period last year, according to a report from the National Statistical Committee (NSC) of Armenia.

Consumer prices in Armenia increase by 0.2% in 11 months

YEREVAN, December 25. /ARKA/. According to preliminary data, consumer prices in Armenia increased by 0.2% in January-November 2024 compared to the same period last year, according to a report from the National Statistical Committee (NSC) of Armenia.

The report shows that in November 2024, consumer prices rose by 1.4% compared to November 2023, and by 1.3% compared to October 2024.

According to the NSC, prices for industrial goods in January-November 2024 increased by 3.4% compared to the same period in 2023. In November 2024, prices for industrial goods grew by 6.1% year-on-year, but decreased by 0.2% compared to October.

Inflation Figures and Forecasts
The Armenian state budget for 2024 sets inflation at 4% (±1.5%), and for 2025, it is forecasted at 3% (+1%). In November, the 12-month inflation rate was 1.4%. According to the Central Bank's monetary policy report for the fourth quarter of this year, inflation in Armenia is expected to be between 2.1% and 1.6% by the end of 2024, with forecasts for 2025 ranging from 3.9% to 3.2%, for 2026 from 4.2% to 3.8%, and 4% for 2027.

The World Bank (WB) expects inflation in Armenia to be 3% in 2024, 3.5% in 2025, and 4% in 2026. The International Monetary Fund (IMF) predicts that prices in Armenia will rise by 3.1% in 2024 and by 3.7% in 2025. The Asian Development Bank (ADB) forecasts inflation to be 0.8% in 2024, with a rise to 2.5% in 2025. The Eurasian Development Bank (EDB) expects inflation in Armenia to be 1.8% by the end of 2024 and 3.1% by the end of 2025.

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