Yerevan /Mediamax/. The Central Bank of Armenia increased today the refinancing rate for 0.25 percentage points, establishing it## at the level of 7.00%.

As Mediamax was told in the press service of the Central Bank, the given decision was made by the CB Board today during its session.

It was noted at the session that in May 2008, as compared to April, inflation at the volume of 1.3% was registered. The inflation index in the course of the year made 9.9%, exceeding the targeted upper limit for 4.4%.

The CB Board noted that despite the mitigation of external inflationary pressures, which appeared, in particular, in the form of decrease of international prices for grain and rice, the prices for oil products continue to remain high, preserving the potential for increase.