Armenia’s income does not draw near inflation – Armen Poghosyan.

The increase in the income of Armenia’s residents remains behind the inflation rate, Armenian Consumers’ Association Chairman Armen Poghosyan said during a press conference on Monday.

In his words, even though the total inflation rate is 4.7 percent, the prices of essential goods have increased more.

As per Poghosyan, inflation is somewhat of a normal phenomenon, but the salaries and pensions need to increase at a greater rate. Otherwise, the living standards decline.

In Armen Poghosyan’s view, Armenia’s inflation calculation method is imperfect, and as a result the inflation’s announced level incorrectly reflects the reality.

According to Poghosyan, the high cost of transport is also an important factor that causes inflation.