This year inflation in Armenia will not exceed the target level of 4% +1.5%, Armenia's International Economic Integration and Reforms Minister Vache Gabrielyan said in the Parliament on Wednesday.
He said that in Jan-Nov 2014 inflation made up 1.5%. By the end of this year it will grow due to AMD fluctuations but it will not exceed the target level. The Central Bank of Armenia expects it to be 3.2%.
According to the CB, in Jan-Nov 2014 consumer price index made up 101.5%, food price index 101.1%, nonfood price index 101.4%, service tariff index 102.3%.
Gabrielyan did not agree with opposition MP Levon Zurabyan that AMD fluctuations will boost inflation. He refuted Zurabyan's report that in recent months the CB's foreign reserves have shrunk from $2.13bln to $1.6bln and have not been used to the point. As of Wednesday AMD dropped against USD by almost 10%.