YEREVAN, September 8. /ARKA/. Consumer prices in August 2016 were 1.9% down when compared with 2015 August, the National Statistical Service of Armenia (NSS) said today.

According to the NSS, prices of food products (including alcoholic beverages and tobacco) fell by 3.1% year-on-year, non-food products were down by 3.4%, while services grew by 0.8%.

Overall, consumer prices for the first six months of 2016 were 1.6% down when compared to the same time span of 2015. Prices for foodstuff (including alcoholic beverages and cigarettes) fell by 3.8%, non-food products – by 1.9%, while services grew by 2.3%.

According to the NSS, consumer prices in August 2016 were down by 0.5% from the previous month. It should be noted that consumer prices have been falling in Armenia since February.

The government’s projection of inflation for 2016 is 4% (± 1.5%); the GDP growth forecast is t 2.2%.  --