As a result of the decrease in global food prices, the prices are also decreasing in Armenia, the governor of the Central Bank of Armenia told a press conference Tuesday.

According to Martin Galstyan's prediction, the inflation rate in Armenia will be below the target of 4 percent in the future.

"The drop in prices in Armenia is also due to the strict monetary policy, as well as the increase in supply after the coronavirus," he said.

The Central Bank chief added, however, that due to the increase in foreign demand and the increase in wages, the prices of services in Armenia are increasing by 6 to 8 percent on a monthly basis, and by 12 percent on an annual basis.

According to him, the increase in salaries in Armenia has surpassed not only the real GDP, but also the increase in productivity.

Galstyan emphasized that the share of the IT sector in Armenia’ GDP has quadrupled, as the specialists who came to Armenia receive high salaries in this sector.