date:Aug 20, 2021
Food prices in Armenia are rising uncomfortably high and the causes are not easy to fix: global inflation, a bad harvest, and economic depression brought on by pandemic and war.
Last month, compared to July 2020, the price vegetables increased by 53%. The Central Bank of Armenia (CBA) says core inflation was up 8.1% y/y in July, the highest figure seen since 2011. The CBA, the guarantor of price stability, targets 4%.
In an attempt to tame this higher-than-expected inflation, the CBA raised it