Inflation in accommodation and food services is 8,7% - central bank governor

YEREVAN, JUNE 15, ARMENPRESS. The Central Bank doesn’t view the fight against inflation to have ended, Central Bank Governor Martin Galstyan told lawmakers.

“Inflation last year was due to both supply and demand. The main component of demand was of external origin, meaning we had an inflow of international visitors who developed the demand for Armenia’s goods and services, and as a result we see that even until now the inflation in accommodation and food services is 8,7%,” Galstyan said, adding that they don’t find the fight against inflation to be completed.

The Central Bank is forecasting 6,9% economic growth for 2023. “But we must understand that in long-term and mid-term the economy can’t endlessly keep on growing beyond its potential,” Galstyan warned.