Inflation in Armenia 0.8% in November

Inflation in Armenia 0.8% in November

Interfax
Dec 7 2004

Yerevan. (Interfax) – Inflation in Armenia in November 2004 amounted
to 0.8%, while deflation since the start of the year amounted to 0.3%,
a source in the Armenian National Statistics Service told Interfax.

The source said that growth in consumer prices last month was due to
seasonal changes in price for some types of foodstuffs.

The average monthly drop in consumer prices in January-November 2004
amounted to 0.05%, compared with growth of 0.3 percentage points in
the same period last year.

According to Central Bank forecasts, inflation in Armenia in 2004
will not exceed 3%, as set down in the budget for the year.

Consumer prices in the country increased 8.6% in 2003.