Inflation Decreases, Says Central Bank President

In November 2023, the annual inflation rate decreased by 0.5 percent. This was stated by the President of the Central Bank of Armenia, Martin Galstyan, at a meeting with journalists.

According to him, the normal annual inflation rate at the end of October was zero. Galstyan noted that the annual inflation is expected to stabilize within the 4 percent benchmark. "The risks of deviation from the expected trajectory are balanced," he said.

According to Galstyan, high economic activity persists in Armenia, supported by significant growth in services and construction. "In the fourth quarter of 2023, economic activity in the main partner countries of Armenia continues to slow. This is reflected in the decline of prices in commodity markets and the pace of global inflation," the Central Bank president elaborated.

He added that external demand in Armenia is slowing, while internal demand remains high, which is expressed in the significant growth of private consumption.