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NEWS » Economy » Inflation of 1.5% registered in Armenia in December, 1% for the month
Economy

Inflation of 1.5% registered in Armenia in December, 1% for the month

10.01.2025, 14:29
In December 2024, compared to December 2023, inflation in Armenia amounted to 1.5%, and 1% compared to the previous month.
Inflation of 1.5% registered in Armenia in December, 1% for the month

YEREVAN, January 10. /ARKA/. In December 2024, compared to December 2023, inflation in Armenia amounted to 1.5%, and 1% compared to the previous month. This is according to the report from Armenia's National Statistical Committee (NSC).

According to the NSC, in December 2024, compared to December 2023, prices for food products and non-alcoholic beverages increased by 2%, and by 2.3% compared to November.

Alcohol and tobacco products saw a 3% increase in price year-on-year, while there was no price change compared to the previous month. Prices for clothing and footwear decreased by 2.6% in December 2024 compared to the previous year (a 0.1% decrease from the previous month). 

In the utilities sector, deflation of 0.2% was recorded in December compared to the previous December, and inflation of 0.9% compared to November. Prices for household goods, appliances, and daily home maintenance activities decreased by 2.5% in December compared to the previous year, with no change from November.

The healthcare sector saw a price increase of 3.2% year-on-year (a 0.6% increase compared to November), while the transport sector saw a price increase of 3.3% year-on-year (with a 0.6% decrease compared to November). 

The communications sector saw a 0.4% increase year-on-year (with no change compared to November). Prices in the recreation and culture sector increased by 0.4% year-on-year (with a 0.8% increase compared to November), while education prices increased by 7.8% (no change compared to November). 

The restaurant and hotel sectors saw a 1.4% increase year-on-year (a 0.2% decrease compared to November). Prices for various goods and services decreased by 1.6% year-on-year (a 0.4% decrease compared to November).

In the non-food market, prices in December 2024 decreased by 1.8% compared to December 2023, but increased by 0.3% compared to November 2024.

Furthermore, tariffs for services to the population increased by 2.5% year-on-year in December 2024, with no inflation recorded compared to the previous month.

Armenia's economic growth in the 2024 state budget is projected at 7%. The Central Bank of Armenia expects economic growth in 2024 to range between 6.5% and 5.8%.

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