YEREVAN, September 12. /ARKA/. Yearend inflation in Armenia will drop to 0%, Chairman of the Central Bank of Armenia Martin Galstyan said at a press conference today.

"During the next year we will approach our target of 4%," he said.

Sccording to the National Statistical Committee (NSC). in August 2023, consumer prices in Armenia were down 0.2% compared to August 2022, and up 0.1% compared to July 2023,

The deflation was mainly due to a drop in prices for foods (minus 4.0% yoy in August after minus 3.9% yoy a month earlier), because of cheaper imported food products, as well as due lower prices for fruits and vegetables in the domestic market.

The government's inflation projection for 2023 is 4% (±1.5%). In June  Central Bank said it expected 12-month inflation at the end of the year to be slightly below this target. -0-