According to the Statistical Committee of Armenia, the country’s economy has shown interesting pricing trends for the period from January to August 2024.
Consumer prices saw a slight decrease of 0.1% compared to the same period last year. However, in August 2024, there was a 1.3% year-on-year increase and a 0.1% rise compared to July of the current year.
The situation is somewhat different in the industrial goods sector. Over the first eight months of 2024, prices increased by 2.9% compared to the same period in 2023. In August 2024, a year-on-year growth of 3.5% was recorded, but with a monthly decline of 1.4%.
It is noteworthy that these figures significantly differ from the projections set in the state budget for 2024, which initially anticipated inflation at a level of 4% (±1.5%).
In its monetary policy report, the Central Bank of Armenia expects inflation to be in the range of 2.1-2% by the end of 2024. The forecasts for the following years are as follows: 2025 - 3.2-4%, 2026 - 3.8-4.2%, 2027 - 4%.
