Inflation in Armenia Will Be Higher by Year End: Martin Galstyan

Inflation in the Republic of Armenia will be higher by the end of the year. This was announced today, June 11, at a press conference by the President of the Central Bank, Martin Galstyan.

It is noted that currently inflation is above 0%. During the second quarter of 2024, the 12-month inflation rate continued to decline, reaching 0.3% in May. The 12-month core inflation has also decreased, standing at -0.5% in April.

“By the end of the year, inflation will be higher, and we will be approaching 2-2.5%, depending on developments in agriculture. When the Central Bank forecasts that inflation will be higher, we plan for mid-term inflation to be brought to the target of 4%. At the same time, we want to conduct a smooth policy and do not want to make very sharp moves. For instance, when sharp inflation was recorded two years ago due to the pandemic, we did not raise the interest rate sharply; we did it consistently,” Galstyan stated.