ArmInfo. In the consumer market of Armenia in January-April 2021, inflation was recorded at 5.1%, against 2.6% inflation in the same period in 2020. According to the RA Statistical Committee, this was provoked by an increase in the prices of food products (including alcohol and cigarettes) by 8.6% (versus 5.7% a year earlier), non-food products - by 5% (versus 0.1% a year earlier) and tariffs for services - by 1.1% (against 0.3% a year earlier).
In January-April 2021 compared to January-April 2020, the consumer market recorded inflation of 5.4% (against inflation of 0.1% a year ago), which was facilitated by the rise in prices for food and non-food products by 7.6% and 7.3 %, respectively, and an increase in tariffs for services by 1.9%.
In April 2021 to April 2020, consumer prices increased by 6.2% (against 0.9% growth a year earlier) due to an increase in the price of food products by 8.3%, non-food products - by 8.5%, and an increase in tariffs for services for 2.4%.
In April alone, the consumer market recorded an inflation of 1.3% (against 0.9% a year earlier) due to a rise in prices for food products by 2.5%, non-food products - by 0.7%, and an increase in tariffs for services by 0.1 %. In Yerevan in April 2021, consumer prices increased by 1.2%, against growth by 0.8% a year earlier. The April inflation in the consumer market (1.3%) was accompanied by the AMD revaluation against the dollar by 0.4%. In January-April, inflation in the consumer market (5.1%) was accompanied by a 1.3% devaluation of the dram against the dollar. In April 2021 to April 2020, the dram depreciated against the dollar by 7.6%, amounting to 525.6 AMD / $ 1 with inflation of 6.2% (versus 488.7 AMD / $ 1 with a y-o- y inflation of 0.9% in April 2020).
To note, the World Bank forecasts inflation in Armenia in 2021 at 3.5% with an increase in 2022 to 3.8% (against actual inflation of 3.7% in January-December 2020, y-o-y inflation of 1.2%). According to the forecast of the International Monetary Fund, inflation in Armenia in 2021 will average 3.9% with a slight decrease in 2022 to 3.2%. And core inflation, according to the IMF, will rise from an actual 1.3% in 2020 to 3.7% in 2021, but then drop to 2% in 2022. The head of the Central Bank of Armenia is confident that inflation will be able to return to the target threshold (4%) in 2021.
