In June this year, the 12-month inflation rate continued to grow and made 10.3%, Deputy Chairman of the Central Bank of Armenia Nerses Yeritsyan told journalists on August 2.
According to him, the 12-month natural inflation has also increased and made 9.4%.
He noted that there is a slowdown in economic activity in Armenia's main partner countries.
"There is some easing of inflationary pressure in the international commodity market, but prices remain at historically high levels. The external inflationary impact on Armenia will somewhat weaken, but it will still remain in the near future. The uncertainty over the macroeconomic outlook also persists," Yeritsyan said.
He highlighted that in the second quarter of 2022, the Armenian economy saw higher-than-expected economic activity, especially in services, and positive shifts were also recorded in industry and exports.
"The high demand associated with the arrival of citizens from Russia leads to the expansion of the general inflationary environment and the maintenance of high inflationary expectations. In the case of the outlined scenario of the Central Bank monetary policy, 12-month inflation will gradually decrease and in the medium term will approach the target 4%," said the deputy head of the Central Bank.
