Central Bank chief: 12-month inflation rose to 9.6% in Armenia in November
The economic activity in Armenia is estimated to be lower than forecast at this point, mainly due to a downturn in agriculture and industry, Chairman of the Central Bank Martin Galstyan told a news conference on Tuesday.
Galstyan said that inflation in Armenia stood at 1.7% in November this year against 1.3% in November 2020, with the 12-month inflation rising to 9.6% at the end of November.
He predicted 8.4% inflation in Armenia by the end of the year.
The Board of the Central Bank decided to raise the refinancing rate by 0.5 percentage point to 7.75% on Tuesday.
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