There is No Need to Panic over Sharp Price Increase in Just One Month: Minister of Economy

The Minister of Economy, Vahan Kerobyan, spoke to reporters today about inflation, stating that there is no need to panic.

"There is no need to panic over a sharp price increase in just one month. If we look at the trends occurring in the world, it is, of course, very bad that prices are rising, but we must also understand what the fundamental bases of this are," he said.

The minister noted that numerous factors affect prices, which are not solely determined by the internal situation in Armenia but also by the international market. He stated that the prices of maritime transportation and food worldwide have sharply increased, which significantly impacts the Armenian market.

"The Central Bank and the Government are working in a direction to tolerate or curb inflation as much as possible, and in this regard, the Central Bank has tools that it applies," he said.

The Minister of Economy expressed his belief that in the coming months, we will see positive dynamics, and inflation will return to the targeted range.