ArmInfo. For 2019 among the EAEU countries , the lowest inflation was recorded in Armenia - 0.7%. This is noted in the February issue of the EEC analytical review "Main Socio-Economic Indicators of the EAEU".
Then, in 2019, inflation follows Russia - 3%, Kyrgyzstan - 3.1%, Belarus - 4.7%, Kazakhstan - 5.4%.
Armenia is also the leader in the smallest increase in food prices - by 0.2% in 2019. And the lowest price increase for non-food products and the smallest rise in prices for services were recorded in Kyrgyzstan - 0.6% and 0.4%, respectively.
In total, inflation in the EAEU amounted to 3.3% in 2019, including food products rose by 3.4%, non-food products by 3.1%, and tariffs for services rose by 3.4%. Meanwhile, in the World Bank forecast for Armenia for 2019, inflation was expected at 3%, with an increase in 2020 to 4% and maintaining this level in 2021.
According to the Statistical Committee of the Republic of Armenia, inflation in the consumer market of Armenia in 2019 was lower - 0.7% than in 2018 - 1.8%. This was largely triggered by an increase in prices of non-food products (including alcohol and cigarettes) by 1.4% than in food products by 0.2%, with a rise in tariffs for services by 1.1%. The average monthly increase in consumer prices in January-December 2019 amounted to 0.1%, repeating the trend a year ago.
In y-o-y terms (January-December 2019 to January-December 2018), inflation amounted to 1.4% (against inflation at 2.5% a year ago), due to a rise in price of food products by 2.1% (against 2.5% - growth a year earlier), non-food - by 1.5% (against 4.5% growth a year earlier) and increase in tariffs for services by 0.5% (against 1.2% growth a year earlier).