03.Aug .2022 15:00

Armenia’s 12-month inflation in July was 9.3 percent

Armenia’s 12-month inflation in July was 9.3 percent
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The 12-month inflation in Armenia in late July 2022 was up 9.3% from the year before, the National Statistical Committee (NSC) reported today. Prices in July 2022 were down 1.4% from the previous month of June, it said.

According to the NSC, prices of food and non-alcoholic beverages in July 2022 were up 13.5% from July 2021 and down 4.3% from June 2022.

Prices of alcohol and tobacco products rose by 8.2% from July 2021 and by 0.6% from June 2022.

Prices for clothing and footwear rose by 10.9% from July 2021, while utility bills upped by 7% and dropped by 0.4% respectively.

Prices for household goods and appliances rose 9.1% from July 2021 and 1.7% from June 2022.

Prices for health services rose by 1.8% and 0.4% respectively, transportation prices grew by 9.2% and 0.2% respectively, communications prices upped by 0.6% and 0% respectively, recreation and culture events prices were up 14.3% and 0.2% respectively, education services grew by 1.5% and 0% respectively, prices for restaurants and hotels upped by 7.5% and 1.2% respectively.

Prices for non-food goods in July 2022 were up 8.2% from July 2021 and by 0.5% from June 2022.

Also, prices for services were up 5.7% from July 2021 and 0.5% from June 2022.

Armenian government’s GDP growth forecast for this year is 7%, while inflation is set at 4% (±1.5%). Armenia's GDP in the first half of 2022 grew by 11.8%, ARKA reports.