Armenia: Heading Europe’s GDP Growth Rate and Having 2.5% Inflation in Its Consumer Market.

Armenian economy

In the first half of 2019, some significant changes were reported in the Armenian economy.

The GDP growth rate of Armenia for the 1st quarter of 2019 amounts to 7.1%. This figure is the highest indicator among the European countries.

Hungary follows Armenia having 5.2% GDP growth, and with 5% GDP growth Romania comes next.

Poland and Georgia have 4.7% GDP growth rate taking 4th and 5th positions.

Coming back to Armenia, inflation amounting to 2.5% was registered in the consumer market in June 2019 compared with June 2018. Meanwhile, compared with May 2019, 1.9% deflation is recorded.

Armenia’s statistical service released figures according to which the average monthly increase of consumer prices for the period January-June 2019 was 0.2% which is less by 0.1% than the number reported for the same period in 2018.

Armenian cities that were under study had a 2.7%-1.2% price cut in consumer prices in June from May. Yeghegnadzor has the highest drop in prices. Compared with May consumer prices dropped by 1.8% in Yerevan (Armenia leader in Europe with GDP growth rate in 1st quarter of 2019, ARMENPRESS (July 11, 2019) (in English)Armenia’s consumer market sees 2.5% inflation in 12 months, (July 9, 2019) (in English)).

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