Armenia's annual inflation rate in August 2024 was 1.3 per cent

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YEREVAN, 4 September. /ARKA/. Consumer prices in Armenia in August 2024 rose by 1.3 per cent year-on-year, the National Statistical Committee (NSC) reported./pp

At the same time, 0.1 per cent inflation was recorded in August 2024 compared to July of the same year, according to the NSC./pp

In January-August 2024, prices decreased by 0.1 per cent compared to the same period in 2023./pp

According to the NSC, prices of food and non-alcoholic beverages increased by 1 per cent in August 2024 compared to August 2023, and decreased by 0.2 per cent compared to the previous month./pp

Alcohol and tobacco prices in August were up 4.4 per cent year-over-year and 0.3 per cent higher than in July this year./pp

Clothing and footwear prices fell 3.9 per cent in August 2024 (1.7 per cent less than in July) and utilities rose 0.9 per cent (1 per cent more than in July)./pp

Prices for household goods, appliances, and daily household activities fell 4.6 percent in August on a year-over-year basis and 2 percent on a month-over-month basis./pp

Prices for health care rose 1.8 per cent year-on-year in August (up 0.3 per cent from July), transport rose 9.1 per cent (up 1.6 per cent from July), communications rose 0.4 per cent (up 0.1 per cent from July), recreation and culture rose 0.1 per cent (down 0.6 per cent month-on-month), education services rose 4. 8 per cent (unchanged from July 2024), restaurant and hotel prices rose by 3 per cent (0.5 per cent more than in July), and prices for miscellaneous goods and services fell by 2.4 per cent year-on-year in August (down 1.1 per cent from the previous month)./pp

Meanwhile, statistics show that prices of non-food items fell by 1.6 per cent in August 2024 compared to August 2023, and by 0.6 per cent compared to July this year./pp

Services in August 2024 rose in price by 3.3 per cent yoy and 0.7 per cent m/m./pp

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