On September 11, the Eurasian Development Bank (EDB) stated that the main deflationary factors in Armenia currently are the strengthening of the national currency, a decrease in external price pressure on imported goods, and tight monetary conditions.

"In Armenia, a member of the EAEU, in August, inflation was minus 0.2% y/y after minus 0.1% y/y a month earlier. This dynamic was mainly facilitated by lower prices in the food segment (minus 4.0% y/y in August after minus 3.9% y/y a month earlier), which is associated with cheaper imported food products, as well as lower prices for fruits and vegetables by the domestic market. Prices for imported fuel for vehicles also decreased (minus 4.2% y/y), and the rise in prices for other non-food goods and services weakened," the report added.

"The main deflationary factors are the strengthening of the Armenian dram, a decrease in external price pressure on imported goods, and tight monetary conditions," the EDB added.