{"id":249989,"date":"2021-09-14T17:54:04","date_gmt":"2021-09-14T17:54:04","guid":{"rendered":"https:\/\/armbanks.am\/2021\/09\/14\/249989\/"},"modified":"2021-09-14T17:54:04","modified_gmt":"2021-09-14T17:54:04","slug":"central-bank-chairman-says-inflation-to-remain-high-until-the-end-of-2021","status":"publish","type":"post","link":"https:\/\/armbanks.am\/en\/2021\/09\/14\/249989\/","title":{"rendered":"Central bank chairman says inflation to remain high until the end of 2021"},"content":{"rendered":"\n<p><strong>YEREVAN, September 14. \/ARKA\/.<\/strong>\u00a0\u00a0In an attempt to curb the growing inflation Armenian Central Bank has raised today the refinancing rate by 0.25 percentage points, setting it at 7.25%. The inflation still remains well above the 4 percent target set by the government and the Central Bank for 2021.<\/p>\n\n\n\n<p>Speaking at a news conference today Central Bank chairman Martin Galstyan said in August 2021, inflation was 0.4% up from the previous month. As a result the 12-month inflation amounted to 8.8% at the end of the month.<\/p>\n\n\n\n<p>According to him, the short-term inflation acceleration in recent months has been driven by the rise in seasonal food prices, while natural inflation turned out to be lower than expected.<\/p>\n\n\n\n<p>\u201cOn the other hand, both external and internal economies are still experiencing inflationary effects, therefore the Central Bank decided to raise the key rate,&#8221; Galstyan said.<\/p>\n\n\n\n<p>Galstyan also noted that the recent tightening of monetary conditions has had a significant impact on the regulation of forward-looking demand, containment of inflation and the achievement of its targets in the medium term.<\/p>\n\n\n\n<p>&#8220;In such conditions, it is predicted that 12-month inflation will remain high until the end of the year, and then in 2022 it will approach the target of 4% and stabilize around it,&#8221; Galstyan said.<\/p>\n\n\n\n<p>According to the National Statistical Committee (NSC),&nbsp;Armenia\u2019s consumer price index in late August 2021 was 8.8% higher from the same month in 2020. It said also that the inflation in August 2021 was up 0.4% from the previous month.<br>The consumer price index of the first eight months was higher 6.4% from the same time span in 2020, according to the NSC.<br>Armenian government\u2019s projection of GDP growth for 2021 is 3.2%, while inflation is set at 4% (\u00b1 1.5%). According to preliminary statistics, in the second quarter of 2021 Armenian economy expanded by 13.1% compared to the same period in 2020.<br>In early July, Prime Minister Nikol Pashinyan stated that the forecast for economic growth for 2021 has been revised upward to 6%. -0-<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In an attempt to curb the growing inflation Armenian Central Bank has raised today the refinancing rate by 0.25 percentage points, setting it at 7.25%. The inflation still remains well above the 4 percent target set by the government and the Central Bank for 2021<\/p>\n","protected":false},"author":1,"featured_media":157630,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":"","tstyn_error":""},"categories":[12139,9216],"tags":[15865,12225],"class_list":{"0":"post-249989","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy-en","8":"category-news","9":"tag-central-bank-2","10":"tag-inflation"},"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts\/249989","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/comments?post=249989"}],"version-history":[{"count":0,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts\/249989\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/media\/157630"}],"wp:attachment":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/media?parent=249989"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/categories?post=249989"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/tags?post=249989"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}