News - Armenia records 2% inflation in 2023

Inflation in Armenia was 2 percent in January-December 2023 compared to the same period last year, Armenian News-NEWS.am learns from the Statistical Committee. Also, a 0.6 percent deflation was recorded in December 2023, compared to the same period of the previous year, in the consumer market of Armenia, whereas 0.9 percent inflation was recorded compared to November. The prices of food and non-alcoholic beverages decreased by 0.5 percent in 2023, compared to the previous year, while compared to November, prices increased by 2 percent. The prices of alcoholic beverages and tobacco products increased by 8.5 percent in one year, clothing and shoes—by 5.2 percent, and housing services, water, electricity, natural gas, and other types of fuel—by 2.8 percent. Inflation was recorded also in the market of non-food products of Armenia. These prices increased by 1.7 percent in January-December 2023, compared to the previous year. Considerable inflation was recorded in the service sector of Armenia as well. Accordingly, this inflation was 4.5 percent last year, compared to the previous year.