YEREVAN, September 24 /ARKA/. In August, inflation showed growth for the third month in a row after a period of decline since October 2023, according to the ‘’World Bank’s Armenia Monthly Economic Update – September 2024’’.
It is noted that inflation in August amounted to 1.3% (annually), resulting in average inflation for January-August 2024 amounting to minus 0.1%.
“Transport prices increased by 9.1% in August (annually), driven by a 9% increase in excise taxes and higher prices for imported oil. Inflation for food and non-alcoholic beverages was 1% (annually) in August,” the study said.
It is also noted that at the beginning of September, the Central Bank of Armenia reduced its key rate by another 25 bps to 7.5%.
The 2024 state budget sets inflation at 4% (±1.5%). According to the Central Bank’s monetary policy report for the third quarter of this year, inflation in Armenia is expected to be within 2.1-2% by the end of 2024, the forecast for 2025 is 4-3.2%, for 2026 – 4.2-3.8%, for 2027 – 4%. -0-
