Wednesday, November 13 2013 20:11
Chief banker of Armenia is sure that inflation in Armenia will make up about 7% at the end of 2013
ArmInfo. Inflation in Armenia will make up about 7% at the end of 2013 given this year's growth in energy tariffs, Artur Javadyan, Head of the Central Bank of Armenia (CBA), said in Parliament on Wednesday when replying to opposition MP, ex-prime minister of Armenia Hrant Bagratyan's question.
Javadyan said that in October 2013 inflation made up 7.1% as compared with October 2012, and in Jan-Oct 2013 inflation made up 3.5% versus 5.7% in Jan-Oct 2012. He said that 4% (1.5%) inflation is fixed in the state budget 2014. "This year has seen growth in energy tariffs and this has led to 2.5-3% rise in prices. These changes were forecasted by the CBA's report on inflation. Nevertheless, the dynamics of the past few months points at inflation drop", stressed Javadyan. In August 2013 inflation reached 9.3% as compared with August 2012. It dropped to 8.2% in September and then to 7.1% in October. For comparison, Javadyan pointed out last year's indices: in November 2012 inflation made up 1.4% and in December 2012 - 2.1%.
The National Statistical Service of Armenia reports that the 14.5% growth in gas and electricity prices in July 2013 raised the tariffs of services in Armenia by 5%. The share of services in the consumer goods basket of Armenia makes up 11.26%, which explains the 0.4% inflation in July. In August 2013 the tariffs of services rose by 2.6% (by 11.2% as compared with Aug 2012), and in Jan-Aug 2013 the tariffs grew by 10.5% (by 4.4% as compared with Jan-Aug 2012). The August rise in service tariffs was due to the 6% growth in prices of utilities, 7.2% rise (in August 2013) in gas and electricity prices for the population and natural gas prices at the filling stations. In September 2013 the tariffs of services dropped by 0.2% (10.96% y-o-y growth), and in Jan- Sept 2013 the tariffs rose by 10.4% (5.1% y-o-y growth). In October 2013 the tariffs kept on dropping to 0.3% (10.3% y-o-y rise), and in Jan-Oct 2013 the tariffs rose by 10% (5.6% y-o-y rise).
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