According to WB forecasts, average annual inflation in Armenia in 2018 will be 3.5%

ArmInfo. According to the forecasts of the World Bank, the average annual inflation in Armenia in 2018 will be 3.5%, and in 2019 - 3.2%. This forecast is given in the updated analytical report of the World Bank on the economy of Armenia.

According to official statistical data, inflation in Armenia in January-December 2017 was 2.6%, after two years of deflation: 1.1% in 2016, and 0.1% in 2015. Inflation in 2017 was largely triggered by an increase in food prices by 5.3% and non-food products - by 1.7%, while tariffs for services decreased by 0.5%.

In the annual breakdown (January-December 2017 to January-December 2016), the consumer market also recorded inflation of 1% (against deflation of 1.4% a year ago), which was due to a rise in price of food products by 4% (against a 3% decline in the year earlier), with a reduction in the price of non-food products by 1.8% (against a 2.5% decline a year earlier) and a 1.3% decrease in service tariffs (against a 1.8% increase a year earlier). In particular, in the group of food products, vegetables rose 8.2%, fruit - 0.9%, dairy products, cheese and eggs - by 7%, meat products - 11%, fish and fish products - by 24.8%. In the group of non-food products, gasoline and diesel fuel went up by 18.2-18.9% in 2017.