The 12-month inflation rate will remain high in Armenia in the first half of 2011 – 9.5%, what will be conditioned by supply shocks late in 2010, including the unprecedented growth in prices for agricultural products and increase in global prices for basic food products and commodities.

The inflation paces will slow down from the third quarter to reach 5.3% by the end of 2011, the Central Bank of Armenia (CBA) said in its program of monetary policy for the first quarter of 2011.

It reads that the monetary policy should be toughened along with continuation of measures aimed at dedollarization to gain the 4% target inflation rate.