The Statistical Committee has published data on the Consumer Price Index in Armenia for the year 2024.
According to the report, in May 2024, the 12-month inflation rate was recorded at 0.3%, with deflation of 0.8% compared to the previous month.
It is worth noting that prices for food and non-alcoholic beverages decreased in 2024. In May of the current year, they fell by 2% compared to the same period last year and by 1.5% compared to April 2024.
In the non-food goods market, prices remained unchanged in May 2024 compared to the same month of the previous year, but there was a deflation of 0.4% compared to April 2019.
In the field of services for the population, tariffs increased by 2.3% in May 2024 compared to the same period of the previous year, but there was deflation of 0.3% compared to April of the current year.
From January to May 2024, prices in the consumer market of Armenia decreased by 0.8% compared to the same period of the previous year.
Previously, BMG reported that Armenia's GDP in the first quarter increased by 9.2% compared to the same period last year, exceeding $5 billion. In the first quarter of 2024, Armenia's GDP per capita was 653,721 drams ($1,685) compared to 608,356 drams ($1,560) for the same period last year.
The economic growth forecast in Armenia's state budget for 2024 is set at 7%, with inflation projected at 4% (±1.5%).
