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Armenia Has 2.2% Deflation In July; Inflation At 4.5% Year-To-Date

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  • Armenia Has 2.2% Deflation In July; Inflation At 4.5% Year-To-Date

    ARMENIA HAS 2.2% DEFLATION IN JULY; INFLATION AT 4.5% YEAR-TO-DATE

    Interfax News Agency
    July 31 2008
    Russia

    Armenia had 2.2% deflation in July and inflation of 4.5% since the
    beginning of the year, the National Statistics Service reported.

    In July, prices on food (including alcohol and tobacco) declined 4.4%
    but prices on non-food goods were up 0.7%. The prices for paid services
    rose 0.4%.

    Prices were up an average of 0.6% each month compared with an average
    monthly price rise of 0.1% in the first half last year.

    The government forecasts inflation for the full year at 4% plus or
    minus 1.5 percentage points. The IMF forecasts Armenian inflation in
    2008 at 7%.

    Armenia had 6.6% inflation in 2007.
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