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July 16
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Inflation in Armenia will be higher at the end of the year. Governor of the Central Bank of Armenia (CBA), Martin Galstyan, announced this during a press conference Tuesday.

To note, inflation in Armenia is currently above 0 percent. During the second quarter of 2024, the 12-month inflation continued to decline, reaching 0.3 percent in May. The 12-month normal inflation also dropped, totaling -0.5 percent in April.

"Inflation will be higher at the end of the year, and we will approach 2 to 2.5 percent, depending on what developments there will be in agriculture.

When the Central Bank forecasts that inflation will be higher, we plan that the inflation shall be brought to the target—4 percent—in the medium term.

At the same time, we want to conduct a smooth policy and do not want to take too drastic steps. For example, when two years ago a sharp inflation was recorded [in Armenia] due to the [coronavirus] pandemic, we did not raise the interest rate sharply, we did it consistently," said the CBA chief.

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