Inflation in Armenia is currently on the rise, Nerses Yeritsyan, Deputy Chairman of the Central Bank of Armenia, said at the National Assembly during a preliminary discussion of the implemntation of the state budget for 2021 on Tuesday.

Thus, according to the latest forecasts made in March 2022, inflation should have been at the level of 6-6.5% at the end of the year. However, new upheavals arose due to the regional and geopolitical situation.

“The main external shock is the rise in energy prices and the global rise in prices associated with the maintenance of supply chains. At the moment, we are evaluating the impact of these shocks, although, in a certain sense, we are actually already seeing them. Over the past month, inflation has started moving up again,” Yeritsyan said.

He expressed hope that as a result of the Central Bank's monetary policy, inflation will again begin to decline in three months.

“If there are no new shocks, inflation will return to the target 4 +/-1.5%,” he noted.