0.6% inflation recorded in October, 0.3% for the month

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YEREVAN, November 5. /ARKA/. In October 2024, inflation in Armenia was recorded at 0.6% year-on-year and 0.3% month-on-month. This is according to data from the report by the National Statistical Committee of Armenia./pp

According to the NSC, in October 2024, prices for food products and non-alcoholic beverages decreased by 0.5% year-on-year, while they rose by 0.9% over the month./pp

Alcohol and tobacco products increased in price by 3.9% year-on-year in October and by 0.2% compared to September. Clothing and footwear prices decreased by 2.7% in October 2024, with a 1.9% increase over the month. In the utilities sector, inflation was 0% year-on-year in October, while prices decreased by 0.9% compared to September. Prices for household goods, appliances, and daily apartment maintenance activities dropped by 2.9% year-on-year in October, but rose by 1.2% over the month./pp

The growth of prices in the healthcare sector in October was 2.2% year-on-year (up 0.2% compared to September). The transport sector saw a 6.8% increase (down 0.9% over the month), while the communications sector grew by 0.4% (down 0.1% month-on-month). In recreation and culture, prices rose by 0.6% (up 0.8% over the month), and in education, growth was 7.8% (unchanged from the previous month). The restaurant and hotel sectors experienced a 1.9% increase (down 0.2% month-on-month). For various goods and services, prices decreased by 1.3% year-on-year in October (up 0.4% over the month)./pp

At the same time, according to statistics, prices in the non-food market in October 2024 decreased by 2.1% compared to October 2023, while they increased by 0.4% compared to September of the current year./pp

In addition, tariffs for services to the population increased by 3.3% year-on-year in October 2024, while a decline of 0.4% was recorded over the month./pp

Armenia's economic growth in the state budget for 2024 is projected at 7%. The Central Bank of Armenia expects the country's economic growth in 2024 to be in the range of 6.5% to 5.8%. -0-/p