Wednesday, December 21 2011 21:18
Central Bank of Armenia forecasts 4-5.5% inflation by late 2011 and 3-5.5% inflation in 2012
ArmInfo. By late 2011 inflation in Armenia will reach 4-5.5% (with 92.2% probability), and 3-5.5% by late Q3 2012 (with 61% probability). This forecast is reflected in the Armenian Central Bank's program of monetary policy for Q4 2011.
According to the National Statistical Service of Armenia, in November 2011 inflation was fixed at 1.2%, and in Jan-Nov 2011 - at 2.1%. In November food commodities grew in price by 2.1%, and in Jan-Nov 2011 - by 1.2%. In November 2011 non-food items rose in price by 0.3%, and over Jan-Nov 2011 - by 3.8%. Tariffs in the sphere of services grew by 0.3% in Nov 2011, and by 2.8% in Jan-Nov 2011 due to the growth of prices of utility services, catering services and consumer services. Tariffs in the sphere of transport grew by 2% in Nov 2011 due to the increase in tariffs of air transport services by 3.6%.
According to the IMF forecast, at the end of 2011 inflation in Armenia will reach no more than 5%.
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