YEREVAN, April 11. /ARKA/. Inflation in Armenia will amount to 3% in 2024 and accelerate to 3.5% in 2025 under the conditions of monetary policy easing, Luke Fotchman, Deputy Director of the Asian Development Bank’s Armenia Resident Mission, told a press conference today.
“Inflation will increase slightly in the forecast period but will continue to remain low,” he said presenting ADB’s April Asian Development Outlook 2024 report.
According to the National Statistical Committee of Armenia, inflation rate was 2 percent in January-December 2023 compared to the same period in 2022.
The ADB report notes that the Central Bank of Armenia is likely to maintain the course of adapted monetary policy aimed at supporting economic growth, guided by the fact that external price pressures will remain subdued.
Armenian government’s inflation forecast for 2024 is 4% (±1.5%). A deflation of 1.2% was registered in the consumer market of Armenia in March of this year compared to March of last year. Prices decreased by 0.2% compared to February of the same year.
The Central Bank’s inflation forecast for 2024 is 1.3% -0
