According to the Statistical Committee of Armenia, a slight deflation in consumer prices was observed in the first half of 2024.
Consumer prices decreased by 0.6% in the first six months of 2024 compared to the same period in 2023. However, on a year-over-year basis (June to June), a slight increase of 0.8% was recorded. Additionally, in June 2024, prices fell by 0.9% compared to May of the same year.
As for industrial goods, there has been moderate price growth. In the first half of 2024, prices for industrial goods increased by 2.7% compared to the same period last year.
Year-over-year (June to June), the growth was 0.8%, while on a monthly basis, prices remained unchanged.
Previously, BMG reported that economic activity in Armenia in June this year showed a significant increase of 7.1% compared to the same month last year, and for the first six months of 2024, the growth was 10.4%.
Armenia's economic growth in the state budget for 2024 is projected at 7%, with inflation targeted at 4% (±1.5%).
