ArmInfo. In Armenia, the industrial price index rose to 103.6% in January-November 2025 (from 103.4% in the same period of 2024). This slight change in this indicator is observed against the backdrop of a deterioration in the annual dynamics of the industrial sector, from 7.6% growth to a stagnant 0.5%, with a volume of 2.8 trillion drams ($7.3 billion). This is evidenced by preliminary data from the Statistical Committee of the Republic of Armenia.
According to statistics, in November 2025, compared to November 2024, the industrial price index increased more significantly - to 106.2% (almost the same as a year ago - 106.1%). During this period, the industrial sector demonstrated the highest growth - 31.7%, compared to a 19% decline the year before. Notably, inflation in the Armenian consumer market increased significantly during these periods.
Specifically, in January-November 2025, compared to the same period in 2024, inflation increased from 0.2% last year to a reported 3.3%. A similar weakening of inflation was observed in November 2025 compared to November 2024 - to 3.1% (from 1.4% the year before). Moreover, this consumer price inflation trajectory in January-November 2025 was supported by a 5.1% increase in food prices, while annual inflation in November 2025 was driven by a 4.1% increase in food prices, while utility rates continued to rise at the same rate (3-2.9%) during these periods. For comparison, in 2024, the following food price dynamics were recorded during the above-mentioned periods: a 1.6% annual decline in January- November and a 1.9% annual increase in November, while, as is currently the case, a 3% increase in service prices was observed during these periods.
It is worth noting that annual economic activity growth in Armenia accelerated to 8.3% in January- November 2025 (from 7.4% a year earlier), with a more noticeable acceleration of annual growth in November of this year. - from 1.2% to 10.4%. At the same time, there is a deterioration in the annual dynamics of foreign trade turnover in January-November 2025 to a 33.2% decline from last year's 54% growth, as a result of a decrease in both exports by 40.6% (against 73.9% growth a year ago) and imports by 27.4% (against 41.5% growth a year ago). However, in November 2025, compared to November 2024, the volume of foreign trade increased by 15.3%, which resulted from growth in both exports by 17.3% and imports by 14%. While a year ago, in November 2024, compared to November 2023, the volume of foreign trade was in decline by 27.4% due to a decline in exports by 35% and imports by 21.4%. (The average exchange rate of the dram in January-November 2025 was 387.51 drams/$1).
