ARMENIAN INFLATION IN 2008 AT 5.2%, GDP UP 7.2% IN 11 MTHS

Interfax
Jan 11 2009
Russia

Consumer prices in Armenia in January- December 2008 increased by 5.2%,
the National Statistics Services said.

Inflation in December went up 0.1%.

In December, in comparison with November, prices on foodstuffs
(including alcoholic and tobacco goods) went up 0.7%. Tariffs on
services increased went up 0.2% while non-foodstuff prices went down
by 2.3%.

In addition, GDP in Armenia in January-November 2008 went up 7.2%
year-on-year, or, in absolute terms, increased in 3.29 billion dram
($11 billion).

It was earlier reported that the government’s forecast on inflation
in 2008 came to 4%, give or take 1.5%. The International Monetary Fund
(IMF) put this figure at 7.5%.

Armenian inflation in 2007 came to 6.6%, topping an earlier
forecast. The IMF puts inflation in Armenia at 5% for 2009.

Armenia’s GDP growth forecast for 2008 comes to 10.4% and 9.2% in
2009. In 2007, Armenia’s GDP went up 13.8% in comparison with 2006.