Inflation below Central Bank forecast: EDB expects another cut in refinancing rate in Armenia

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Economy

11.11.2024, 10:27

Inflation in Armenia remains below the forecast of the Central Bank (about 2.0%), which is likely to prompt another cut in the refinancing rate in December, according to the weekly macro review of the Eurasian Development Bank (EDB).

Inflation below Central Bank forecast: EDB expects another cut in refinancing rate in Armenia

YEREVAN, 11 November. /ARKA/. Inflation in Armenia remains below the forecast of the Central Bank (about 2.0%), which is likely to prompt another cut in the refinancing rate in December, according to the weekly macro review of the Eurasian Development Bank (EDB).

‘Inflation in Armenia stood at 0.6% yoy in October, the same as a month earlier. Prices in the food segment continued to decline - food products fell in price by 0.5% y/y in October after declining by 1.0% y/y a month earlier.

The growth of prices for services also slowed down in October, reaching 3.3% yoy after 3.6% yoy a month earlier.

Armenia's state budget expects in 2024 a 4% (±1.5%) inflation. According to the Central Bank's monetary policy report for the third quarter of this year, inflation is expected to be within 2.1-2 per cent by the end of 2024.

The WB expects inflation to be 3 per cent in 2024. The IMF forecasts that prices will rise by 3.1 per cent in 2024 -0-

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