Armenia's 12-month consumer inflation in March 2023 was up 5.4% compared to March 2022, according to the National Statistical Committee (NSC).
It said that in March 2023 prices were down 0, 7% compared to February of the same year. In January-March 2023, prices increased by 7.2% compared to the same period of 2022.
The prices of food products and non-alcoholic beverages increased by 5.1% in March 2023 compared to March 2022 and decreased by 2.2% compared to February 2023.
Prices of alcohol and tobacco products went up by 8.3%, and dropped by 0.5% compared to February 2023.
Prices for clothing and footwear in March 2023 increased by 7.4% year-on-year and dropped by 0.2% from February 2023. Utilities grew by 4.2% and decreased by 0.1% respectively.
Household goods and appliances rose in price by 11.3% and declined by 0.2% respectively. Healthcare prices were up 5.1% in March 2023 as opposed to March 2022. They grew by another 1.1% from February 2023.
Transportation prices rose by 2.5% and 1.4% respectively. Communications prices upped by 0.3% year on year and did not change compared to February 2023.
Recreation prices upped by 11.2% and 1.4% respectively. Education prices were up 4.7%. They did not change compared to February 2023.
Visits to restaurants and staying at hotels grew in prices by 9% and 0.1%, while prices of other services upped by 10.3% and 0.2% respectively.
Prices of non-food products in March 2023 grew by 4.6% compared with March last year, while in comparison with February of this year they grew by 0.2%. Services grew by 6% and 0.4% respectively.
Armenian government's growth projection for 2023 is 7%. The inflation forecast is 4% (±1.5%). According to the National Statistical Committee, Armenia's economic activity grew by 10.9% in January-February 2023 compared to January-February 2022, ARKA reports.
