YEREVAN — Inflation, which began to appear in Armenia in 2020, has become a serious problem currently, as a result of which daily the rates of poverty and emigration are increasing. In addition, minor crimes are emerging, reminiscent of the 1990s.
Inflation in Armenia has increased almost 8 percent compared to last year, which is a huge jump. Below are some examples that reflect the year-end price increases of 2021 compared to the end of 2020.
Food prices rose by 11.2 percent, household goods by 8.7 percent, leisure by 3.8 percent, utility bills by 1.3 percent, alcoholic beverages by 9.3 percent, clothing by 8.1 percent, entertainment by 3.2 percent, internet by 0.9 percent, transport by 9.1 percent, healthcare by 5.4 percent and education by 1.8 percent.
These figures, of course, have already changed during the first two months of 2022, unfortunately for the worse, because inflation has continued to increase.
The State Commission for the Protection of Economic Competition was established in Armenia to implement policy in the field of protection of economic competition. The first composition of the commission was approved in 2001. The main goal is to protect and encourage free economic competition, to provide the necessary environment for fair competition, to promote business development, and to protect the interests of consumers in Armenia.
The Commission is a member of the Interstate Council for Antimonopoly Policy of the CIS (Commonwealth of Independent States), the International Competition Network (ICN), and the CIS Interstate Council for Antitrust Policy’s Advertising Coordination Council.