In October inflation in Armenia subsides to its record low

17.11.2015 13:52
In October inflation in Armenia subsides to its record low

YEREVAN, November 17. /ARKA/. Armenia has recorded a1.9% twelve-month inflation in October, Arthur Javadyan, the head of the Central Bank of Armenia, said on Monday.

He said this inflation rate was due to decrease in prices for bread, sugar and fuel.

“We have had no such a low inflation rate before, and I think that if prices remained pegged for a long period we would have no negative public outlooks also on prices,” he said.

Javadyan said that such things are favorable for attracting investments to Armenia, since a low inflation rate is a pledge for a long-term economic growth and attraction of investments.

According to the National Statistical Service of Armenia, a twelve-month inflation rate in Armenia was going up throughout the first six month of this year. It stood at 4.2% in January and at 5.4% in February. In March inflation exceeded the projected ceiling reaching 5.8%, but in April it subsided to 4.8%, in May it rose to 5.1% and in June to 5.5%.

In July, however, inflation started subsiding - the then inflation was recorded at 4.2%. In August and September inflation slid to 3.6% and 3.3% respectively.

In the government budget for 2015, inflation rate is projected at 4% (±1.5%). ----0----


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