January 22
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YEREVAM. –The actual annual inflation in Armenia was 2.6% and almost coincided with the forecast of the Central Bank, stated the Chairman of the Central Bank of Armenia Arthur Javadyan on January 23 during the parliamentary hearings.

He noted that inflation in neighboring countries was higher.

“In Georgia inflation was 6.7% in 2017, in Azerbaijan- 7.9%, Russia -2.5%, Turkey- 19.9%, Iran- 10%. As to the inflaion 2016- 2017, in Armenia it was 1.5%, because in 2016 we had a deflation of 1.1%. In Georgia, inflation was 8.6%, Azerbaijan - 24.6%, Russia - 8%, Turkey - 21.5%, and Iran - about 20%,” said Javadyan.

The Central Bank continued to reduce the refinancing rate starting from 2017, he said, adding that inflation expectations have declined for the past 2 years.

“However, due to excise tax rates, customs duties and inflation for some products, inflation expectations have increased,” said the head of the Central Bank, adding that sometimes some experts and media aggravate the situation.

According to Arthur Javadyan, “despite the rise in price of gasoline, compressed gas and fuel, in January 2018 inflation will maintain the same value as in previous years. The Central Bank predicts that inflation will gradually approach the target index of 4% and stabilize in 2018.”

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