YEREVAN, May 12, /ARKA/. Central Bank of Armenia governor Arthur Javadian said today the inflation in the first four months of this year dropped to a single-digit 5%, bringing down the 12 month inflation indicator to 8.9%.
While presenting to parliament a report on the fulfillment of Central Bank’s money and credit policy for 2011 Javadian said a gradual toughening of money and credit policy started from the start of the year will allow to cut the 12% annual inflation rate reported in late February.
According to him, this makes realistic chances to bring the inflation rate to the projected rate of 4% (±1,.%).
“I am sure that this will happen, although there are factors, which may have a negative impact of this indicator, like a lasting hike of international food prices,’ he said.
Particularly, he referred to record high rise of coffee prices over the last 30 years, although, according to him, coffer makes only 1 percent of Armenian consumer basket.
According to the data of the National Statistical Service, the inflation in 2011 April rose by 8.9% from the same period of time in 2010. The April inflation was 5% higher from the 2010 December, while in January-April it rose by 10.5% from a year earlier. -0-
