YEREVAN, May 11. /ARKA/. Inflation in Armenia accelerated in April amid rising prices for food and non-food products, according to the Eurasian Development Bank’s weekly macro review.
According to the EDB, annual inflation in Armenia rose to 5.3% in April, up from 4.5% the previous month.
“The main factor was the acceleration of food inflation, reaching 9.5% y-o-y compared to 7.8% y-o-y in the previous month. Non-food price growth also accelerated, reaching 1.5% y-o-y from 0.8% y-o-y. Meanwhile, inflation in the services segment stabilized at 2.6% y-o-y,” the report states.
The EDB noted that, under these circumstances, the Central Bank of Armenia maintained the refinancing rate at 6.5% at its May meeting.
The regulator’s decision could also have been influenced by a possible reduction in Armenia’s risk premium, which would imply a lower rate trajectory, the review notes.
