Wednesday, December 3 2014

Tatevik Shahunyan

This year inflation in Armenia will not exceed target level

This year inflation in Armenia will not exceed target level

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%.

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