Armenia faced 9.5% inflation in 2010, Arthur Stepanyan, chief of the Armenian central bank’s monetary policy devise. Armenia’s inflation rate is comparable to other CIS countries’ having the same share of food products in subsistence, he said. According to the Central Bank of Armenia, inflation in the Commonwealth of Independent States averaged 10% in 2010. Sharp rebounds in food prices in 2010 drove inflation up all over the world. Stepanyan said that the World Bank fixed 25-percent record price hike in the last decades.
The central bank says inflation in Armenia will subside precipitously in the second half of this year and will came close to the 5.5% rate projected in the 2011 government budget.
The central bank says inflation in Armenia will subside precipitously in the second half of this year and will came close to the 5.5% rate projected in the 2011 government budget.
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