Inflation in Armenia accelerated to 3.3% in March – Eurasian Development Bank

Inflation in Armenia rose to 3.3% year-on-year (y/y) in March, up from 2.5% y/y in February, according to the weekly macroeconomic review by the Eurasian Development Bank (EDB).

The acceleration in price growth was driven by an increase in food prices (+5.4% y/y in March, compared to +4.5% y/y in February) and service prices (+2.9% y/y in March, up from +2.5% y/y in February).

Additionally, the decline in non-food prices slowed (-0.5% y/y in March, compared to -1.2% y/y in February).

According to forecasts by EDB analysts, inflation in Armenia this year is expected to remain within the target range set by the Central Bank of Armenia (3% ± 1%).