YEREVAN, July 13. /ARКА/. The international rating agency Fitch Ratings expects inflation in Armenia to average 4.4% in 2026, after which it will gradually return to its target level of 3%.
“The upward inflation trend began before the war in Iran and was driven by prices for food, services, and universal healthcare costs. Russian import restrictions may increase domestic supply of some goods, which will have a disinflationary effect,” the agency’s report states.
The Armenian state budget for 2026 projects inflation at 3% (±1%). According to Armstat, two-month inflation in June was 5.1%. According to the Central Bank’s monetary policy report for the second quarter of this year, inflation in Armenia is expected to be 4.1-3.9% by the end of 2026, depending on scenario (A-B), the forecast for 2027 is 3.6-2.9%, and for 2028 – 3.3-2.9%.
