Consumer prices in Armenia show zero growth in 10 months, same as last month

YEREVAN, November 25. /ARKA/. According to preliminary data, consumer prices in Armenia from January to October 2024 showed zero growth compared to the same period last year. This is confirmed by the report from the National Statistical Committee (NSC) of Armenia.

Zero growth in consumer prices was also recorded for January-September of this year compared to the same period last year.

According to statistics, in October of this year, a 0.6% growth was recorded compared to October of last year, and a 0.3% growth compared to September of the same year.

According to the NSC, prices for industrial goods in January-October 2024 increased by 3.1% compared to the same period in 2023. In October of this year, prices for industrial goods increased by 4.9% year-on-year and by 1.8% month-on-month.

Inflation Figures and Forecasts

The Armenian state budget for 2024 projects inflation at 4% (±1.5%). According to the Central Bank's monetary policy report for the third quarter of this year, inflation in Armenia is expected to be within the range of 2.1-2% by the end of 2024. The forecast for 2025 is 4-3.2%, for 2026 it is 4.2-3.8%, and for 2027 it is 4%.

The World Bank expects inflation in Armenia to be 3% in 2024, 3.5% in 2025, and 4% in 2026. The IMF predicts that prices in Armenia will increase by 3.1% in 2024 and by 3.7% in 2025. According to ADB forecasts, inflation in Armenia will be 0.8% in 2024, and it will accelerate to 2.5% in 2025. The EDB expects inflation in Armenia to be 1.5% by the end of this year. -0-