The annual inflation rate in Armenia increased to 1.2 percent year-on-year in May of 2020 from 0.9 percent in the previous month. It was the highest inflation rate since July of 2019, mainly due to a rebound in prices of food, beverages & tobacco (1 percent vs -0.3 percent in April). Meantime, housing & utilities inflation was steady at 1.1 percent while transport cost fell further (-3.7 percent vs -0.9 percent). On a monthly basis, consumer prices went down 0.1 percent, after a 0.9 percent gain in April.
Inflation Rate in Armenia averaged 584.27 percent from 1993 until 2020, 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. This page provides the latest reported value for - Armenia Inflation Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Armenia Inflation Rate - data, historical chart, forecasts and calendar of releases - was last updated on June of 2020.
Inflation Rate in Armenia is expected to be 3.20 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 3.10 in 12 months time. In the long-term, the Armenia Inflation Rate is projected to trend around 3.50 percent in 2021, according to our econometric models.