ArmInfo. In February 2026, annual inflation in Armenia's consumer market accelerated to 4.3% (from 2.5% the previous year). This was driven by a 6.9% increase in food prices and a 3.2% increase in service tariffs, along with a slight 0.9% increase in non-food prices.
This was more moderate than the previous year, when food and services experienced a less noticeable increase of 4.6% and 1.5%, respectively, while non-food prices fell by 0.3%. This is according to data from the RA Statistical Committee.
Inflation also accelerated to 2.5% in January-February 2026 (from 1.5% the year before), driven largely by a 5.1% increase in food prices and a slight 0.9% increase in services, while non-food prices fell by 0.3%. A year earlier, in January-February 2025, both food and non-food prices increased by 3.1% and 0.7%, respectively, while service prices fell slightly by 0.2%.
Year-on-year (February 2026 compared to February 2025) vegetable prices fell by 0.8% (following a 20.4% increase the year before), while fruit prices increased by 6.5% (compared to a 6.1% increase the year before).
Among food products, the prices also increased year-on-year (February 2026 compared to February 2025): cocoa - by 36.4%, eggs - by 19.2%, lamb - by 13.3%, beef - by 12.5%, pork - by 11.7%, chocolate - by 10.6%, buckwheat - by 10.1%, coffee - by 8.7%, pasta - by 8.6%, trout and cheeses - by the same 7.5%, butter - by 7.3%, sunflower oil - by 6.7%, wheat groats (dzavar) - by 6.4%, flour - by 6.2%, poultry - by 4.6%, sugar and granulated sugar - by 4%, bread - by 3%, peas - by 2.5%. Of all food products, only rice became cheaper - by 3.3%.
Cigarette price growth accelerated significantly year-on-year, from 1.4% to 13%. Among alcoholic beverages, vodka saw a more pronounced increase, up 8.1%, while beer and wine saw a more moderate rise of 3.6% and 2.1%, respectively. Last year, vodka and beer increased less significantly, by 7.5% and 1.4%, respectively, and wine only began to rise by 0.4%.
In the non-food market, jewelry prices accelerated sharply year-on-year, from 19.2% to 58.1%. Medication prices slowed slightly, from 3.6% to 3.5%, while small household appliances accelerated, from 2.4% to 2.6%. Medical equipment prices, after a 0.2% annual decline in February 2025, rose 3.2% a year later. Clothing prices increased by 1% (versus a 3.6% decline a year ago), and tableware and kitchenware by 1.1% (versus a 1.4% decline a year ago). The decline in footwear prices slowed, from 1.7% to 0.2%. Gardening tools fell by 13% (versus an 8.6% increase a year ago), large household electrical appliances by 2.1% (versus a 4% increase a year ago), and furniture, as in the previous year, fell by 0.2%.
Gasoline and diesel fuel prices fell year-on-year (February 2026 to February 2025) by 8.2% and 6.2%, respectively, while a year ago there was a 0.6% increase in gasoline prices and a 5% decline in diesel fuel prices.
In the service sector, the most significant price increases were for comprehensive leisure services, up 22.6%, followed by transportation services, up 17.3% (including insurance, up 15.3%), and hairdressing and spa services, up 4.6% (compared to 11.2% a year ago). Medical service rates accelerated, from 3.3% to 5.6%, while the increase in dental services and doctor consultations slowed to 3.8% and 5.2%, respectively (from 5% and 10.2% a year ago). Meanwhile, related medical services accelerated in growth, from 2.3% to 7.7%. Financial services increased slightly, from 1% to 2.1%. Hotel services also increased in price, up 4.5% (after declining by 5% a year ago).
February's annual consumer price inflation of 4.3% was accompanied by a 4.6% appreciation of the dram against the dollar, a similar trend to the previous year, when inflation was 2.5% and the dram appreciated 2.1% against the dollar. In February 2026, the dram strengthened against the dollar to 377.6 drams per dollar, up from 395.6 drams per dollar in February 2025.
Starting in 2025, the inflation target in Armenia is set at 3% with a tolerance of +/- 1 percentage point, compared to the previous 4% (+/- 1.5 percentage points).
