Central Bank: Inflation in Armenia to be gradually subsiding

26.04.2010 17:52
Central Bank: Inflation in Armenia to be gradually subsiding

YEREVAN, April 26. /ARKA/. Inflation in Armenia will be gradually subsiding, the board of the Central Bank of Armenia said at its Monday’s meeting.

The board found it necessary to continue tightening monetary policy to form real interest rates and stressed the importance of the government’s anti-crisis steps, such as reduction of the state budget deficit ensured by better collection of taxes and reasonable utilization of budget savings.

The central bank’s board said that these steps will lay necessary groundwork for making lowering of 12-montyh inflation faster.

National Statistical Service of Armenia reported 8.4% inflation in Jan-March 2010, compared with the same period a year before.

Consumer prices grew 2.9% in Jan-March 2010, compared with the same period a year earlier.

In the 2010 state budget, inflation is planned at 4% (±1.5%). -0--


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