In August 2023, the 12-month inflation in Armenia remained almost unchanged, making 0.2 percent at the end of the month, governor Martin Galstyan of the Central Bank of Armenia (CBA) told a press conference Tuesday.
"Twelve-month normal inflation [in Armenia] continued to decrease, and at the end of August it was 0.4 percent. Risks of a decline in global economic activity have increased significantly. In Armenia's main partner countries, 12-month inflation continues to decline, but the prices of goods and services that stand out with hard prices remain high. Therefore, the central banks of partner countries will continue the relatively restrictive monetary policy in the near future," said the CBA chief.
He predicted that the prices in the international commodity markets will continue to be formed at low levels.
"As a result, deflationary effects on Armenia’s economy from the external sector will be maintained," Galstyan emphasized.