ArmInfo. The Central Bank's decision to reduce the refinancing rate suggests that inflation risks are more manageable today. Chairman of the Central Bank of Armenia Martin Galstyan stated during a press conference on September 12.
At the same time, Galstyan noted that the Regulator cannot declare that the inflation problem in Armenia has been finally resolved. <We still have a lot of work to do. But thanks to the measures taken in the past, we have made the work easier for today," he noted, emphasizing that according to the Central Bank's assessment, by the end of this year, inflation in Armenia will approach the level of 0.9%.
According to the RA Statistics Committee data, in August 2023, compared to August 2022, a meager deflation of 0.2% per annum was recorded in the consumer market of Armenia (against inflation of 9.1% a year earlier), which was the result of a restrained reduction in the price of food products by 2 .7%, with a rise in prices for services by 3.6% and unchanged prices for non-food products, which nevertheless looks better than last year's inflation rates in all three directions- 12%, 6.2% and 8.2%, respectively. In January-August 2023, deflation was recorded at 3.2% (against inflation of 5% a year earlier), provoked by a reduction in the price of food products by 7.6%, non-food products by 1.4%, with an increase in tariffs for services by 1.9 %.
The Central Bank of Armenia on September 12 of this year, again reduced the refinancing rate this time by 0.5 percentage points - from 10.25% to 9.75%.
