Armenia's annual inflation rate stood at 1.8 percent in December 2018, unchanged from the previous month's five-month low. Upward pressure came from: food and non-alcoholic beverages (1.6 percent vs 1.4 percent in November); transport (5.9 percent vs 6.1 percent); housing & utilities (0.5 percent vs 0.3 percent); alcoholic beverages, tobacco (3.9 percent vs 4 percent); health (3.7 percent vs 3.8 percent); restaurants & hotels (2.8 percent vs 3.5 percent); education (2.4 percent, the same as in November); clothing & footwear (0.9 percent vs 2.7 percent); furnishings, household equipment and routine maintenance of the house (0.7 percent vs 1 percent); and miscellaneous goods and services (0.7 percent vs 0.5 percent). By contrast, prices fell for both recreation & culture (-2.4 percent vs -2.6 percent) and communication (-0.6 percent, the same as in November). In 2018, the average inflation rate was 2.5 percent, slightly below 2.6 percent in 2017. Inflation Rate in Armenia averaged 617.20 percent from 1993 until 2018, 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 2.90 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 3.40 in 12 months time. In the long-term, the Armenia Inflation Rate is projected to trend around 1.90 percent in 2020, according to our econometric models.