Sun, 14 September
22.1 C
Yerevan
USD: 383.47 RUB: 4.56 EUR: 449.96 GEL: 142.03 GBP: 519.91

World bank identifies drivers of inflation growth in Armenia in November

YEREVAN, December 23. /ARKA/. Inflation increased to 1.4 percent (yoy) in November, up from 0.6 percent (yoy) in October. The increase was mainly due to 3.1 percent higher prices for food and non-alcoholic beverages (mom), according to the World Bank’s “Armenia Monthly Economic Update – December 2024.

“While apartment rental prices showed almost no increase in the CPI, cadastral data revealed a 2.4 percent (yoy) increase in apartment transaction prices in central Yerevan; and a 58.6 percent (yoy) rise in the number of transactions, a surge in activity attributed to the ending of the mortgage interest rate refund program for Yerevan, effective from January 2025,” the report said.

The Armenian government’s 2024 state budget projects inflation at 4% (±1.5%), and 3% (+1%) for 2025. In November, the 12-month inflation rate was 1.4%. According to the Central Bank’s monetary policy report for the fourth quarter of this year, inflation in Armenia is expected to range from 2.1% to 1.6% by the end of 2024. The forecast for 2025 is 3.9% to 3.2%, for 2026 it is 4.2% to 3.8%, and for 2027, it is 4%.

The World Bank expects inflation in Armenia to be 3% in 2024, 3.5% in 2025, and 4% in 2026. The IMF forecasts a 3.1% increase in prices in Armenia in 2024, followed by 3.7% in 2025. According to the ADB, inflation in Armenia is expected to be 0.8% in 2024, accelerating to 2.5% in 2025. The EDB anticipates inflation in Armenia to reach 1.8% by the end of this year and 3.1% by the end of 2025.

spot_img

POPULAR

3.6% inflation registered in Armenia in August

n the consumer market of Armenia, 12-month inflation in August of this year amounted to 3.6%, according to the report of the National Statistical Committee (NSC) of Armenia.

Ranking of Armenia’s most profitable banks in 2024

ARKA news agency has released a ranking of the most profitable commercial banks in Armenia in 2024.

Central Bank of Armenia initiates discussions on draft by-laws related to Law on Cryptoassets

The Central Bank of Armenia is set to conduct a public discussion on  the draft by-laws essential for implementing the Law on Cryptoassets, which became effective on July 4 of this year, as reported by the regulator's press service.

Insurance market of Armenia is in embryonic state

Insurance market of Armenia is in embryonic state

Ranking of the most profitable banks in Armenia based on results of second quarter of 2025

ARKA news agency publishes the ranking of the most profitable commercial banks in Armenia based on the results of the second quarter of 2025.

LATEST NEWS

spot_imgspot_imgspot_img