Inflation Armenia 2021
Average inflation: 7.2%
Current Inflation
Inflation is very high at 7.2%, far above the ECB target.
Peak and Trough
The highest inflation was in November at 9.6%. The lowest inflation was in January at 4.5%.
- Highest month
- November: 9.6%
- Lowest month
- January: 4.5%
- Difference
- 5.1 percentage points
- Months with data
- 12 of 12
Category Insights
The highest price increase was in Food with an average of 11.3%. The lowest price increase was in Energy with an average of 1.3%.
- Highest increase
- Food: 11.3%
- Lowest increase
- Energy: 1.3%
Historical Context
Current inflation is 4.5% higher than the 5-year average of 2.7%. This approaches the highest level since records began (7.7% in 2011).
- 5-year average
- 2.7%
- 10-year average
- 2.7%
- All-time high (2011)
- 7.7%
- All-time low (2016)
- -1.4%
Trend
Inflation shows an upward trend. Compared to 2020, inflation has risen by +6.0 percentage point.
- Change vs. previous year
- +6.0 percentage points
- Largest monthly swing
- November: +8.0 percentage points
ECB Target
Inflation is 5.2% above the ECB target of 2.0%. This means purchasing power is declining faster than intended.
Purchasing Power
At this high inflation rate, purchasing power rapidly decreases. This has a major impact on households, especially without adequate salary increases.
What you could buy for €100 this year will cost approximately €107.20 next year at this inflation rate.
Multi-year trend
Monthly figures 2021
Inflation by category
Inflation differs per product group. Click on a category for the historical trend.
Month overview
| Month | Inflation | Difference vs. 2020 |
|---|---|---|
| January | 4.5% | +4.2 |
| February | 5.3% | +5.8 |
| March | 5.8% | +5.9 |
| April | 6.2% | +5.3 |
| May | 5.9% | +4.7 |
| June | 6.5% | +4.8 |
| July | 8.2% | +6.7 |
| August | 8.8% | +7.0 |
| September | 8.9% | +7.5 |
| October | 9.1% | +7.8 |
| November | 9.6% | +8.0 |
| December | 7.7% | +4.0 |
| Average | 7.2% |
Data source
Data from WorldBank. Last updated: 06/01/2026.