The Eurasian Development Bank expects inflation in Armenia to reach 4.4% year-on-year by the end of the year. The forecast was published in the bank’s weekly macro review.
According to the EDB, inflation in Armenia stood at 4.3% in September after 4.4% in August. The bank said the main contribution came from slower food inflation.
Food price growth eased to 6.2% year-on-year in September from 6.4% a month earlier. This was driven by lower prices for some agricultural products.
At the same time, services prices rose by 2.9% year-on-year after 2.8% in August. That points to a slight increase in inflationary pressure in the services sector.
Armenia’s 2026 state budget assumes inflation at 3% (±1%). According to the Central Bank’s monetary policy report for the third quarter of the current year, inflation in 2026 is expected at 4.5-4.2% depending on the scenario, while the 2027 forecast is 3.4-2.7%.
