Armenia predicted to post high inflation in 2011: central bank

February 7, 2011 12:22 pm 

TBILISI, Feb. 7 — Armenia's central bank has predicted a high half-year inflation rate for the first six months of this year.

The Central Bank of Armenia predicted on Sunday that the annual inflation rate would be 9.5 percent for the period between January and June whereas the inflation would drop in the third quarter when it would be somewhere around 5.3 percent.

But overall, the country's year-on-year inflation would still remain high by the end of this year, the central bank predicted without giving figures.

The Central Bank of Armenia said it would toughen monetary policies of the country so as to assist the government to achieve its inflation target of four percent for the entire 2011.

Armenia's annual inflation for last year was 9.4 percent, 2.9 percentage points higher than in 2009. (PNA/Xinhua)



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