The 12-month inflation in Armenia slowed in the fourth quarter of 2025, reaching 3.1% in November. During the same period, however, the 12-month core inflation slightly increased, reaching 3.8%. The governor of the Central Bank of Armenia (CBA), Martin Galstyan, told this to a press conference Tuesday, as he read the CBA report.
It is noted in this report that in the fourth quarter of 2025, risks of further slowing of demand growth in the global economy and in Armenia’s main partner countries, and, in parallel, risks of accelerating inflation in the US, persist. The high pace of consumption growth continues to contribute to relatively strong economic growth and a certain expansion of the inflationary environment.
“In the medium term, amid the US public debt growth, uncertainty around long-term interest rates remains. In Armenia’s other main partner countries, despite some weak signals of recovery in recent months, risks of medium-term slowdown in growth and demand remain tangible,” the CBA report adds, in particular.
