Consumer prices in Armenia increased 1.9 percent year-on-year in March of 2019, at the same pace as in the previous month. Prices for housing and utilities were flat (the same as in February) and cost went up at a softer pace health (1.6 percent from 2.9 percent). In addition, prices continued to fall for transport (-0.8 percent from -0.6 percent) and recreation & culture (-3.1 percent from -3.4). Meantime, inflation was unchanged for food and non-alcoholic beverages (at 3.4 percent). Conversely, cost quickened for alcoholic beverages & tobacco (4.4 percent from 3.9 percent); restaurants and hotels (2.7 percent from 2.3 percent); clothing & footwear (3.1 percent from 2.5 percent) and for miscellaneous goods and services (1.0 percent from 0.8 percent). On a monthly basis, consumer prices increased 0.1 percent, after a 0.6 percent gain in the prior month. Inflation Rate in Armenia averaged 611.13 percent from 1993 until 2019, reaching an all time high of 22887.40 percent in June of 1994 and a record low of -5.52 percent in March of 1999.
Inflation Rate in Armenia is expected to be 1.90 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Inflation Rate in Armenia to stand at 2.50 in 12 months time. In the long-term, the Armenia Inflation Rate is projected to trend around 2.90 percent in 2020, according to our econometric models.