Inflation rate in Armenia slowed to 1.7 percent in July of 2019 from 2.5 percent in the previous month. It was the lowest inflation rate since January, as cost slowed for food and non-alcoholic beverages (2.6 percent vs 4.6 percent in June); transport (1.1 percent vs 1.4 percent) and restaurants & hotels (1.1 percent vs 1.6 percent). On the other hand, inflation was steady for housing & utilities (at 0.3 percent) and health (at 1.7 percent) while prices advanced faster for clothing & footwear (6.2 percent vs 5.2 percent); miscellaneous goods & services (0.3 percent vs 0.2 percent) and for alcoholic beverages & tobacco (4.1 percent vs 4.0 percent). On a monthly basis, consumer prices decreased 1.9 percent, the same pace as in June. Inflation Rate in Armenia averaged 603.22 percent from 1993 until 2019, reaching an all time high of 22887.40 percent in June of 1994 and a record low of -5.52 percent in March of 1999.
Inflation Rate in Armenia is expected to be 2.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Inflation Rate in Armenia to stand at 2.70 in 12 months time. In the long-term, the Armenia Inflation Rate is projected to trend around 3.50 percent in 2020, according to our econometric models.