According to the report of the Statistical Committee of Armenia, deflation was recorded in the country at the level of 1.2% in March 2024, which means a decrease in prices compared to the same period last year.
This indicator also reflects a decrease of 0.2% compared to the previous month.
According to the report, in March 2024, prices for food and non-alcoholic beverages decreased by 5.6% compared to March 2023 and by 0.3% for the month. However, the cost of alcoholic and tobacco products for the same period increased by 7.4%, and compared to February of the current year – by 0.4%.
Prices for clothing and footwear in March 2024 increased by 1.2% compared to the previous year, but decreased by 0.4% for the month. Prices for utilities also decreased by 0.1% for the year and by 1% for the month.
In the non-food sector, there was an increase in prices by 0.1% compared to March of the previous year, however, a decrease of 0.6% was noted compared to the previous month.
Nevertheless, tariffs for services to the population increased by 2.5% over the year, remaining stable compared to the previous month.
Earlier, BMG reported that in February 2024, Armenia registered deflation at a rate of 1.7% compared to February 2023, and for the month, this indicator was 0.7%. The baseline inflation scenario included in the budget is 4±1.5%.
The Government of Armenia has planned economic growth in 2024 at the level of 7%.
