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groong: Inflation in Armenia 1.2% in May, 5.4% for year to date

June 3 2003

Yerevan. (Interfax) – Inflation in Armenia in May 2003 amounted to
1.2% and 5.4% since the start of the year, a source in the republic’s
National Statistics Service told Interfax.

Foodstuffs, including alcohol and tobacco increased 1.7% in May and
7.8% since the start of the year. Prices for non-foodstuffs fell 0.4%
in May (0.1% since the start of the year) and tariffs for services
increased 0.6% (1.3% since the start of the year).

Inflation amounted to 5.2% in the first five months of 2002.

In the year from May 2002 to May 2003 inflation amounted to 2.2%,
prices for foodstuffs (including alcohol and tobacco) increased 2.5%,
for non-foodstuffs – 2.1% and services – 2%.

Inflation in Armenia in 2002 amounted to 2%. The republic’s Central
Bank plans inflation for 2003 at 3%.

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