2024-07-21 06:11:57
Food prices in Armenia have increased by about 12 percent, Central Bank President Martin Galstyan announced during the press conference, also mentioning the causes of inflation. inflation recorded in the world markets and the price increase of some seasonal products.
Martin Galstyan also presented the numbers: inflation in Armenia is 7.7 percent, in the USA they ended the year with about 7 percent inflation, in Russia 8.4 percent inflation was recorded, in Georgia inflation is measured in double digits.
According to the President of the Central Bank, the end-of-year inflation in Armenia was lower than predicted, thanks to the return of the prices of some seasonal products to a level close to the natural one.
“At the end of the year, inflation fell from 9.6 percent, not to the 8.4 percent we predicted, but even lower.” Expecting that food inflation will repeat the behavior of 2021 during this year, I think, is not the case in our base scenario. We expect that food prices will grow at a lower rate,” said Martin Galstyan.
He also said that the Central Bank has calculated the impact of the increase in water and electricity tariffs on general inflation. As a result of the change in water and electricity tariffs, the expected inflation in 2022, according to the Central Bank’s estimate, will be about 0.6 percent annually, and after calculating the secondary effects caused by the increase in electricity prices, the annual inflation will increase by 1-1.5 percent.
“We estimate that the general inflation, which refers to regulated prices, will be around 1-1.5 percent annually. Annual inflation will increase by 1-1.5 percent. that will be the effect of regulated prices on our 2022 inflation,” explained the President of the Central Bank.