Armenian inflation in 2011 November close to average EU indicator: official

ARKA, 11.01.2012

Armenia’s inflation in November 2011 advanced by 2.1 percent from December 2010, and was close to average European figure, Gurgen Martirosyan, head of a department of National Statistical Service of Armenia, said to a news conference today.

He said Armenia was the first among former Soviet republics to present data on the 12-month period inflation and this is why due to lack of data from other CIS countries comparisons are made with EU inflation rate between December 2010 and November 2011. According to him, the average indicator for EU for that period was 2.7%.

Martirosyan said that the lowest inflation rate in November 2011 among former Soviet nations was in Georgia at the level of 1.4% and the highest in Belarus - 204%. Tajikistan saw a 9.1% inflation, in Kazakhstan it was 7%, in Russia - 5.6%. The Armenian government forecasted a 4% (± 1.5%) inflation for 2011. -0-