Inflation rates by country and year

-1.4%42.9%87.3%131.6%176%3,373.8%
-1.4%42.9%87.3%131.6%176%3,373.8%
19943373.8%
20093.4%
20253.3%
Source: World Bank

Data: World Bank, annual %. For information only — not financial advice.

Year2025Inflation Rate3.3%

Behind the curve

Turning points in Armenia

  1. 1994↑ Upward pressure

    The dram's early years — Wikipedia (opens in a new tab)

    Armenia's post-Soviet output collapse and early dram regime produced very high inflation in 1993–94. IMF staff linked the accelerating inflation and negative real dram-deposit rates to a rapid shift into foreign-currency deposits.

    IMF Country Report 95/111 · Republic of Armenia: Recent Economic Developments
  2. 2008↑ Upward pressure

    The world food price crisis — Wikipedia (opens in a new tab)

    In 2008, higher imported food and energy prices met rapid Armenian credit growth, rising wages and pension payments. IMF staff treated the combination of supply shocks and domestic demand as an overheating risk, not a food-price effect alone.

    IMF Country Report 09/29 · Armenia: 2008 Article IV Consultation
  3. 2022↑ Upward pressure

    The post-pandemic inflation surge — Wikipedia (opens in a new tab)

    Armenia's reliance on Russia for key food staples and oil and gas made the Ukraine-war shock especially direct in 2022. Higher imported food and fuel prices, supply disruption and a strong domestic economy raised inflation despite monetary tightening.

    IMF Country Report 22/130 · Armenia: Sixth Review under the Stand-By Arrangement

These are selected historical influences, not a complete account of inflation. An upward-pressure event can coincide with a peak when its inflationary effect has already occurred or when other forces begin pushing inflation lower. The markers show the years in which events occurred, although their effects may extend into later years.

What is the inflation in Armenia?

The annual inflation rate in Armenia was 3.3% in 2025, the most recent year in the World Bank dataset. That means prices rose 3.3% on average compared with the year before. Use the chart above to explore Armenia's full inflation history from 1994 to 2025, and to compare it with any other country.

How inflation in Armenia has changed

Inflation in Armenia peaked at 3373.8% in 1994 and reached its lowest point at -1.4% in 2016. Averaged across the 32 years of available data (1994–2025), the rate has been 115.1% per year.

Frequently asked questions about inflation in Armenia

What is the current inflation rate in Armenia?

The latest available annual figure is 3.3% in 2025, from the World Bank. Because the figures are reported annually, they may not reflect the most recent monthly reading published by Armenia's statistical office.

What was the highest inflation rate in Armenia?

The highest annual inflation rate on record is 3373.8%, reached in 1994.

What was the lowest inflation rate in Armenia?

The lowest annual inflation rate on record is -1.4%, recorded in 2016.

Where does the inflation data for Armenia come from?

All figures come from the World Bank's World Development Indicators (indicator FP.CPI.TOTL.ZG), which report annual consumer price inflation for more than 200 countries and territories from 1960 onward.