According to the weekly macroeconomic review by the Eurasian Development Bank (EDB), Armenia's annual inflation slowed to 0.6% in September 2024, compared to 1.3% in August.
The main factor driving the decline in inflation was the dynamics of food prices. In September, food products decreased by 1% year-on-year, while the previous month had seen a 1% increase.
However, the services sector showed the opposite trend, with prices rising by 3.6% year-on-year compared to 3.3% in August. Meanwhile, deflation in the non-food sector intensified.
Despite the overall slowdown in price growth, Armenia's inflation rate remains below the Central Bank's target range of 4% (+/-1.5%).
The EDB maintains its forecast for Armenia's year-end inflation at 1.5%.
