Consumer prices in Armenia increased 2.5 percent year-on-year in June of 2019, easing from a 2.8 percent rise in the previous month. Prices rose at a softer pace for food and non-alcoholic beverages (4.6 percent vs 5.3 percent in May); miscellaneous goods & services (0.2 percent vs 0.7 percent); health (1.7 percent vs 2.2 percent); restaurants & hotels (1.6 percent vs 1.7 percent) and alcoholic beverages & tobacco (4.0 percent vs 4.5 percent). On the other hand, cost advanced faster for transport (1.4 percent vs 1.1 percent) and clothing & footwear (5.2 percent vs 1.7 percent) while inflation was steady for housing & utilities (at 0.3 percent). On a monthly basis, consumer prices decreased 1.9 percent, following a 0.4 percent drop in May. Inflation Rate in Armenia averaged 605.18 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.