YEREVAN, May 26. /ARKA/. The 12-month inflation will fluctuate between 2.5 and 5.5 percent and will come close to the projected indicator by the end of this year, the Central Bank of Armenia says in its inflation report based on its monetary policy for the second quarter of this year and the first quarter’s results.
According to the report, inflation stood at 5.8% in the first quarter of this year coming close to the ceiling of the projected range.
The 12-month inflation is believed to come close to the ceiling of the projected range because of the increase in electric power prices.
The regulator says maintenance of the current refinancing rate at the second quarter 2015 will make it possible to stabilize the 12-month inflation in 2016.
And later the central bank, taking into account economic developments, will correct its monetary policy, if necessary, to bring inflation to the projected rate.
The regulator, taking into consideration mitigation of monetary requirements along with the continuing financial stability, a more stimulating tax and budgetary policy than it was planned and positive developments in agriculture, revised its economic growth outlook upward.
According the National Statistical Service of Armenia, consumer prices in the country rose 5% in Jan-Apr 2015, compared with the same period a year earlier.
In the government budget for 2015, economic growth is projected at 4.1% and inflation at 4% (±1.5%). –0–
