The Central Bank of Armenia expects inflation of up to 8% during 2013, deputy head of CBA monetary and credit department said.

As Artur Stepanyan further noted, the increase in inflation forecast of 4±1,5% is conditioned by a hike in gas and electricity prices as well as devastating hail in May.

According to him, growing cost of products and services caused by the gas and electricity tariffs upsurge will also affect the inflation growth.

However, he said, inflation will drop in late 2014.