Food prices rise in Armenia for first time in a year

According to data from the Eurasian Development Bank (EDB), food prices have risen in Armenia for the first time in a long time.

The Bank's macroeconomic review mentions the acceleration of inflation in Armenia: in July 2024, the growth was 1.4% compared to the same period in 2023, while in June the figure was 0.8%.

The EDB clarified that inflation was accelerating mainly due to changes in the dynamics of food prices.

"Food prices have risen (by 0.7% compared to July last year) for the first time in 14 months",

the EDB said.

In addition to this, the bank added, the growth rate of prices for services increased in July compared to last year. Last month, it reached 3.1%. In June, it amounted to 2.7%.

At the same time, inflation does not go beyond the target range set by the Central Bank of Armenia with the current acceleration. The regulator expects that price growth will be 1.5% by the end of the year.