EDB: Food prices in Armenia increased for the first time in 14 Months

ArmInfo. The Eurasian Development Bank predicts that by the end of this year, the inflation rate in Armenia will reach 1.5% y/y. This is stated in the Bank's weekly macroeconomic review. 

EDB analysts note that in July, inflation in Armenia rose to 1.4% y/y in July compared to 0.8%  in June .  This was mainly facilitated by the reversal of price dynamics in the food segment. Food prices have increased  by 0.7% y/y in July for the first time in 14 months. 

In July, the growth of prices for services accelerated slightly, reaching 3.1% y/y compared to  2.7% y/y the previous month. Despite the acceleration, inflation remains below the target set by the Central Bank of Armenia. "We forecast price growth at the level of 1.5% y/y by the end of the year", - the EDB statement says.