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Inflation rates to keep growing by end of year – CB chairman
ECONOMY
14.09.2021 | 19:16
At its September 14 meeting, the Central Board of Armenia Board decided to increase the refinancing rate by 0.25 percentage points, setting it at 7.25%, the Chairman of the Central Bank, Martin Galstyan, said at a news conference.
“In August 2021, the Inflation stood at 0.4%, compared to 0.1% deflation in the same month of the previous year, in which case the 12-month inflation continued to increase, and is predicted to reach 8.8 % by the end of the year,” he said.
The short-term inflation rate in recent months is mainly due to the rise in seasonal food prices, while normal inflation has been lower than expected. On the other hand, both the external and domestic economies continue to experience mainly inflationary effects, so the CB Board considers it expedient to raise the policy interest rate.
