YEREVAN. – Armenia’s twelve-month inflation rate constituted 4.7 percent in December 2011, consequently, the Central Bank (CB) secured the objective (4+-1.5%) specified in the law on the state budget, CB First Vice Chairman Nerses Yeritsyan stated Tuesday, at the National Assembly, introducing the report on the 2011 monetary policy.  

He informed that the previous year started with a high inflation rate and in March it reached its highest level of 11.5 percent, ever since the past three years. But it gradually dropped in the following months.     

In January-April 2011, the CB raised the refinancing interest rate by 1.25 percentage points, thereby making it reach 8.5 percent. But factoring in the dropping inflation rate, the Bank left the aforesaid interest rate unchanged between May and August, but reduced it by 0.5 percentage point in September and set it at 8 percent.