Armenia’s first quarter consumer prices index fell by 0.1 percent

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YEREVAN, April 28. /ARKA/. In the first quarter of 2020 consumer prices in Armenia decreased by 0.1% when compared to the same period of 2019, the National Statistical Committee (NSC) said today.

It said consumer prices in March 2020 increased by 0.5% as opposed to February 2020 and compared to March 2019, the consumer price index was down by 0.1%.

According to the NSC, the price index for industrial goods in January-March 2020 compared with the same period in 2019 decreased by 0.1%. In March 2020, compared to February 2020, prices for industrial goods decreased by 0.4%, and compared to March 2019 they fell by 1.7%.

According to official data, electricity production in January-March 2020 increased by 14.8% to 2.083.3 billion kWh. In March compared with February electricity production decreased by 15.4%, and when compared to March 2019 it was up by 1%.

The original Armenian government’s GDP projection for 2020 was 4.9% and the inflation projection was 4% (± 1.5%). Prompted by the coronavirus shock the government has revised its growth projection downward to 2%. ($1 – 479.67 dram).

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