YEREVAN, August 24. / ARKA /. Armenia’s Central Bank expects the 12-month inflation rate in the third quarter of 2013 to climb to 8.5%. This forecast can be found in the regulator’s report on third quarter monetary policy.
The inflation increase is blamed partly on a recent surge in prices of electricity and natural gas and also on inflationary expectations. Based on these factors the Central Bank revised upward its 12 month inflation forecast. Another factor responsible for anticipated inflation rise is the gradual drop in demand for agricultural goods.
The report projects that the yearned inflation is very likely to be within 7.5%-9.0%. The government’s inflation projection for this year is 4% (±1.5%). -0-
