YEREVAN, Dec. 12. /ARKA/. Inflation in Armenia slowed down to 8.8% y/y in November 2022 from 9.5% y/y a month earlier, according to the weekly review of the Eurasian Development Bank (EDB).
“The drop was largely prompted by the slowdown in food prices, as well as by the weakening of inflation in other consumer goods,” reads the review.
According to EDB experts, the expansion of consumer demand continues to have a pro-inflationary impact on prices, while the strengthening of the dram restrains the acceleration of price increases
According to the National Statistical Committee, the 12-month inflation in the consumer market of Armenia in November 2022 compared to November 2021 was 8.8%. Armenia’s economic growth in the 2022 state budget is set at 7%, while inflation is set at 4% (±1.5%).
According to the September forecast of the Central Bank of Armenia, the country’s economy will grow by 12.9% and inflation will amount to about 10% by the end of the year. -0-
