Consumer prices in Armenia in September 2021 were up 8.9% compared to September 2020, according to numbers, released by the National Statistical Committee (NSC).
According to NSC, consumer prices in the first nine months of 2021 were up 6/7% as opposed to the same time span in 2020, ARKA reports.
It said in September 2021, compared to September 2020, prices for food products and non-alcoholic beverages surged by 15.4%. Alcohol and tobacco products rose in price by 9.3%, prices for clothing and footwear grew by 12.4% and utilities upped by 1.6%. Household goods and appliances rose in price by 9.9%.
Healthcare services were up 5.1%, transportation prices grew by 8.8%, communications services by 0.8%, recreation and culture prices by 2.7%, education services by 1.4%, restaurant and hotel prices by 2.6%.
According to statistics, prices for non-food products in September 2021 compared to September last year increased by 9.9%, while services grew by 1.6%.
The original government’s growth projection for 2021 is 3.2%; inflation is set at 4% (± 1.5%). In mid-September, the Central Bank revised upward its growth forecast to 5.4%. According to the World Bank, Armenia's economy will grow by 3.1% in 2021 and by 4.5% in 2022. The IMF forecasts 1% GDP growth for 2021.
Fitch Ratings predicts that real GDP growth in Armenia will recover to 5.5% in 2021, then slowdown to 5.3% in 2022 and to 4.7% in 2023.
