YEREVAN, May 6. /ARKA/. The inflation in April 2017 was 1.2%, the National Statistical Service (NSS) said. It said prices for food products (including alcoholic beverages and tobacco products) increased by 5.6%, while prices for non-food products and services decreased by 2.9% and 2.3%, respectively.

According to NSS, in January-April 2017 consumer goods grew by 0.1% as compared to the same period in 2016; prices of foods grew by 3.5%, while prices for non-food products and services decreased by 3.3% % and 2.5%, respectively. In April alone, consumer prices grew by 1%.

The Central Bank blames the growth of food prices on relatively low agricultural output in 2016/2017, the impact of which will continue until the third quarter of 2017, as well as on the gradual recovery of food prices in international markets.

"Inflation-related developments in April suggest that the inflationary risks, indicated in the latest monetary policy are materializing, which in turn accelerate the recovery of the 12-month inflation target. As a result the inflation forecast is likely to be revised upward in the monetary policy program for the second quarter, " the regulator said.

The government’s projection of inflation for 2017 is 4% (± 1.5%)-- 0--