Thursday, May 23 2013 20:03
Central Bank of Armenia publishes new preliminary forecast for inflation - 4.8% against the previous 4.5%
ArmInfo. Amid the negotiations on the new price of the Russian gas, the Central Bank of Armenia revised the annual inflation forecast for the first half of 2013 - 4.8% against the previous 4.5%, CBA Chairman Artur Javadyan said on Thursday when presenting to Parliament the CBA's monetary policy for 2013.
He pointed out that in case of 15-20% rise in the gas prices and, subsequently, electric power price growth, the first half of 2013 will see some acceleration in the annual inflation rates. According to the preliminary forecasts of the Central Bank of Armenia, by the end of the year the inflation level will rise by 0.2-0.3 pct points to 4.2-4.3% due to the gas price growth. In May 2013 annual inflation will make up 4-4.2%, Javadyan said.
To note, Garegin Baghramyan, Head of the Tariff Department of the Public Services Regulatory Commission, said earlier on Thursday that the gas price for Armenia's consumers will be 156 AMD per 1 cu m, including VAT, according to the preliminary estimations.
Following the rise of the Russian gas tariff for Armenia from the current $180 per 1,000 cu m to $270, ArmRusgasprom applied to the Public Services Regulatory Commission for increasing the gas tariff for the population by 67.4% and for the large consumers by 61.3%. The Russian gas prices for Armenia has not changed since April 2010.
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