Armenia’s economy experienced a slowdown in the annual inflation rate, with May figures settling at 1.3%. That marks the lowest reading since October 2020 and reflects the continued easing of prices for food and housing. On a MoM basis, consumer prices declined 1.8% in May, a noticeable shift from the 0.1% increase in the previous month. Over the first five months of 2023, consumer prices exhibited a 5.2% increase compared to the same period in 2022.