Consumer prices in Armenia were up 9.1 percent year-on-year in October after 8.9 percent inflation in September, the Statistical Committee said.

Inflation in October was 0.7 percent compared to a month earlier when the consumer price index declined by 0.1 percent. In January-October, annual inflation was 6.9 percent year-on-year.

Armenia’s government projects annual inflation in a range of 2.5-5.5 percent in 2021, but the central bank says that annual inflation will exceed the target. The economic growth projection was revised upwards to 6 percent from 3.2 percent.