In August 2024, the average monthly nominal salary in Armenia increased by 6.4% compared to the same month last year, reaching $726. These figures were published by the Statistical Committee of the Republic of Armenia.
According to the report, the private sector saw a 5.9% growth over the year, bringing the average salary to $783. The public sector showed a higher growth rate of 7.8%, with an average monthly nominal wage of $576.
Despite the public sector's more significant growth in recent months, it still lags behind the private sector in terms of average salary levels. However, the gap between the two sectors is gradually narrowing.
Earlier, BMG reported that the number of income-generating jobs in Armenia reached 751,816 in August 2024. Compared to the same period last year, the number of jobs increased by 34,536, representing a 4.8% growth.
Meanwhile, inflation remains relatively low. Consumer prices from January to August 2024 showed a slight decline of 0.1% compared to the same period last year. However, in August 2024, there was a year-on-year increase of 1.3% and a 0.1% rise compared to July of the current year.
These figures significantly differ from the projections set in the state budget for 2024, which initially anticipated inflation at 4% (±1.5%).
