Armenia’s annual inflation rate slowed to 4.2% year-on-year in May 2026, the lowest level since January, down from a three-year high of 5.3% in April. Price growth eased for food and non-alcoholic beverages (6.4% vs 9.5% in April), health (3.7% vs 4.2%), furnishings, household equipment and routine maintenance (0.4% vs 1.0%), as well as restaurants and hotels (3.8% vs 4.2%).
In contrast, inflation picked up for clothing and footwear (1.8% vs 1.7%), housing and utilities (1.1% vs 0.5%), transport (3.2% vs 2.0%), and miscellaneous goods and services (2.9% vs 2.8%), while prices for recreation and culture returned to growth (1.6% vs -0.3%). Meanwhile, prices were unchanged for alcoholic beverages and tobacco (7.7%), communication (1.2%), and education (8.3%).
On a monthly basis, consumer prices fell by 0.8% in May, reversing a 1.3% increase in April and marking the sharpest decline since July 2025.
