In May 2025, Armenia recorded an inflation rate of 4.3%, significantly up from 3.2% in April, according to data released by the Statistical Committee of Armenia.

Under the Central Bank’s revised monetary policy guidelines—effective from 2025—the inflation target has been lowered from 4% to 3%, with the allowable deviation range reduced from 1.5% to 1%, Sputnik Armenia reports.

Food prices rose by 7.4%, while prices for alcoholic beverages and tobacco increased by 5.8%. Clothing and footwear prices dropped by 1.5%. Healthcare costs rose by 3.4%, and transport tariffs increased by 4.2%.

Finance Minister Vahe Hovhannisyan presented key macroeconomic indicators, revenue formation, tax and customs policy, expenditures, and the deficit during the National Assembly’s review of the 2024 state budget execution report.