Inflation is Escalating, No Positive Trends in Sight: "Pats"

The authorities are constantly presenting figures in a colorful manner, which, according to most economists, are far from reality. In particular, citizens are feeling significant inflation every day, yet official figures urge us to distrust what we see and feel in our wallets.

“When we compare the change in the average consumer price index in Armenia with global inflation rates, it is at least twice as high here. Developed countries recorded an inflation rate of 1.1-1.4 percent in the same period, while neighboring Georgia recorded 2.8 percent, and Armenia is at 5.8 percent. Therefore, both with international comparisons and considering the inflation rates recorded in Armenia in previous periods, it is evident that there is an inflationary wave, which will further exacerbate the social issues in the country,” economist Karlen Khachatryan said in an interview with "Pats".

He also added that the pace of inflation is constantly increasing. “If we observe the trends, inflation is becoming more severe, as we have experienced monthly inflation rates of up to 1.5-1.8 percent since January 2020. In December, the inflation rate sharply increased to 3.7 percent. Already in January 2021, we saw 4.3 percent, then 4.8 percent, and this figure has been on the rise. It is clear that, unlike the same time last year, we are now experiencing inflation at a higher pace every month. Therefore, this indicates that there are still no positive trends regarding inflation in the economy,” the economist stated.

Read the full article in today’s issue of the newspaper.