ArmInfo. In Armenia, the industrial price index increased significantly in January-August 2026 compared to the same period in 2025, from 102.8% to 108.8%. This was observed against the backdrop of the annual dynamics of the industrial sector going from a 7.8% decline to 7.4% growth, with a volume of 2.1 trillion drams ($5.6 billion). This is evidenced by preliminary data from the Statistical Committee of the Republic of Armenia. A similar increase in the industrial price index was noted in August 2026 compared to August 2025 - from 105.1% to 108.9%. However, during this period, the industrial sector demonstrated a decline of 4.3%, compared to growth of 5.8% a year ago.
It is noteworthy that inflation was recorded in the Armenian consumer market during these periods. Specifically, in January-August 2026 compared to the same period in 2025, and in August 2026 compared to August 2025, inflation was almost identical: 4.5% and 4.4%, compared to inflation rates of 3.2% and 3.6%, respectively, in these same periods a year ago. Moreover, inflation in the consumer market was mainly supported by the increase in food prices: in January-August 2026 compared to the same period in 2025 by 7.4%, and in August 2026 compared to August 2025 - by 6.6%, whereas a year earlier in the same periods food prices increased less noticeably - by 5.1% and 5%, respectively. At the same time, the growth of tariffs for services weakened - to 2.6% per annum in January-August 2026 and to 2.8% per annum in August 2026 from 3% and 3.2%, respectively, in the same periods a year earlier. However, non-food prices have simultaneously begun to rise: by 1.7% per annum in January-August 2026 and by 2.4% per annum in August 2026, compared to a year-on-year decline of 0.4% in January-August 2025 and a less noticeable annual growth of 1.1% in August 2025.
It is worth noting that this is accompanied by an acceleration in economic activity growth in Armenia in January-August 2026 from 7.1% to 7.3% per annum, and a slowdown from 7.5% to 5.2% in August 2026 to August 2025. At the same time, an improvement in the annual dynamics of foreign trade turnover is observed: in January-August 2026 - from a 41.1% decline to a 3.2% growth, and in August 2026, compared to August 2025 - from a 33.7% decline to a 9.8% growth. In particular, in January-August 2026, the decline in exports slowed down from 48.8% to 6.5% per annum, with import dynamics moving from a 34.9% decline to a 9.3% growth, and in August 2026, compared to August 2025, an improvement in dynamics was noted for imports, with a 28.3% decline moving to a 14.9% growth, and for exports, with a 40.8% decline moving to a 1.3% growth. (The average dram exchange rate in January-August 2026 was 372.29 drams/$1, compared to 389.39 drams/$1 a year ago).
