Annual inflation in Armenia was 1.4 per cent in July

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YEREVAN, 5 August. /ARKA/. Armenia's 12-month inflation rate in July 2024 was 1.4 per cent, while July prices decreased by 0.4 per cent compared to the previous month, the National Statistical Committee (NSC) said in a report./pp

Prices of food and non-alcoholic beverages in July 2024 increased by 0.7 per cent compared to July 2023 and decreased by 1.3 per cent compared to June 2024./pp

Alcohol and tobacco prices increased by 4.3 per cent in July on an annualised basis and by 0.1 per cent compared to June 2024./pp

Clothing and footwear prices decreased by 2 per cent in July 2024 (down 0.9 per cent month-on-month), while utilities increased by 0.4 per cent and 0.6 per cent respectively./pp

Prices for household goods, appliances, and daily household activities decreased 2.5 percent in July 2024 and 0.7 percent from June 2024./pp

Health care prices rose 1.2% year-over-year in July (down 0.1% month-over-month), while transport prices increased 10% (up 1.7% month-over-month)./pp

Also, prices for communication services increased by 0.5% (down 0.1% from June), prices for recreation and cultural activities increased by 0.6% (down 0.5% month-on-month), education prices increased by 4.8%, prices for restaurants and hotels increased by - 3.1% year-on-year and 0.2% from June 2024, and prices for miscellaneous goods and services decreased by 1.4% in July and 0.5% from June./pp

Meanwhile, statistics show that prices of non-food items decreased by 0.5 per cent in July 2024 compared to July 2023 and by 0.3 per cent from June this year./pp

In addition, services in July 2024 rose in price by 3.1 per cent YoY and 0.6 per cent MoM./pp

Armenia's economic growth is set at 7 per cent in the state budget for 2024. The Central Bank of Armenia expects the economy to grow in the range of 6.1-6.8% in 2024. -0-/p