YEREVAN, April 6. /ARKA/. In the first quarter of 2017 Armenian consumer prices dropped by 0.3%, when compared to the same time span of 2016, according to numbers, released by the National Statistical Service (NSS).

According to official data, prices of food products (including alcoholic beverages and tobacco products) increased by 2.8%, while prices of non-food products decreased by 3.5%, and services fell by 2.5%.

In March 2017 consumer prices fell by 0.1% from the year earlier. More exactly, prices of food products (including alcoholic beverages and tobacco products) increased by 3.3%, while prices of non-food products and services decreased by 3.5% and by 2.6% respectively. According to statistics, Armenia closed 2016 with 1.4% deflation.

The inflation rate, projected by the government for 2017 is 4% (± 1.5%); the GDP growth is projected at 3.2%. -0-