Twelve-month inflation in Armenia’s consumer market in late September 2023 amounted to 0.1%- NSC

YEREVAN, October 4. /ARKA/. The 12-month inflation in Armenia’s consumer market in late September 2023 amounted to 0.1%, the National Statistical Committee (NSC) reported.

According to the NSC, the inflation rate in September 2023 was up 0/9% compared to August of the same year. Food and non-alcoholic beverage prices decreased by 3.1% in September 2023 compared to September 2022.

Alcohol and tobacco products were up 8.3%, while prices for clothing and footwear rose 4.4% and utilities were up 1.3%. Household goods and appliances rose in price by 3.7%.

Also, health care prices rose 2%, transportation prices by 1.3%, communications prices declined by 0. 4%, recreation and culture prices rose 1.1%, education prices rose 4.8%, restaurants and hotels prices rose 5.3%. Non-food products prices remained unchanged. Prices for services rose by 3.2%

Armenian government’s growth projection for 2023 is 7%, while inflation is set at the level of 4% (±1.5%). The economic activity grew by 10.4% year-on-year over first 8 months.

According to the Central Bank's latest forecast, Armenia's economy will grow by 7.2% this year and the 12-month inflation will be a little lower of the projected 4% (±1.5%). -0-