Inflation in Armenia expected to reach 10% by the end of the year

YEREVAN, NOVEMBER 1, ARMENPRESS. If the Board of the Central Bank did not raise the refinancing rate, the inflation in Armenia would have been at least around 15%, CBA Governor Martin Galstyan told reporters at a press conference.

He said that inflation now is 9.9% and is expected to reach 10% by the end of the year.

“For the next year we expect that the prices of goods in international commodity markets will start declining to some extent”, he said, adding that in conditions of ongoing developments in Russia, the foreign currency inflow to Armenia has significantly increased.

He stated that even China, which traditionally was having a high economic growth, is now having a single-digit growth, around 3% this year.

“We will bring inflation to its target next year”, he said.