ArmInfo. Inflation in Armenia will remain low in the coming months. Deputy Chairman of the Central Bank of the Republic of Armenia Artur Stepanyan stated this on March 20 during a Armenian Unified InfoCenter's press conference.
"For a long time, inflation expectations are anchored, and in a certain sense, we pursued an expansionary policy, thereby balancing economic activity and ensuring price stability," he said. In this vein, Stepanyan emphasized that taking into account the situation in foreign markets; we can say that the Central Bank does not see any risks associated with inflation.
Over the past 10 years, Armenia has been on the list of countries with a low inflationary environment. Even taking into account the fact that the Armenian dram has devalued by 20% alone during this period. But this, he said, did not significantly affect the purchasing power of citizens.
<Armenia will continue to remain in the list of countries with low inflation. Moreover, having a wide range of tools, we are ready for any adverse developments in the market>, he stressed.
To note, on March 17 the CBA Board found it expedient to reduce the refinancing rate by 0.25 percentage points based on the goal of ensuring price stability, and evaluating the current development inflationary, future consequences of the global economy and the resulting uncertainty. According to the data for February 2020, the consumer market of Armenia recorded a deflation of 0.2% (against inflation 0.6% in February last year), with a y-o-y (February to February) deflation of 0.5%. It should be noted that in 2019 the average y-o-y inflation in Armenia was 1.4%, and at the end of the year (December 2018 to December 2019) - 0.7% alone.
