Inflation Armenia 2022
Average inflation: 8.6%
Current Inflation
Inflation is very high at 8.6%, far above the ECB target.
Peak and Trough
The highest inflation was in June at 10.3%. The lowest inflation was in February at 6.5%.
- Highest month
- June: 10.3%
- Lowest month
- February: 6.5%
- Difference
- 3.8 percentage points
- Months with data
- 12 of 12
Category Insights
The highest price increase was in Food with an average of 13.0%. The lowest price increase was in Energy with an average of 6.2%.
- Highest increase
- Food: 13.0%
- Lowest increase
- Energy: 6.2%
Historical Context
Current inflation is 4.4% higher than the 5-year average of 4.2%. This approaches the highest level since records began (8.6% in 2022).
- 5-year average
- 4.2%
- 10-year average
- 3.3%
- All-time high (2022)
- 8.6%
- All-time low (2016)
- -1.4%
Trend
Inflation shows an upward trend. Compared to 2021, inflation has risen by +1.4 percentage point.
- Change vs. previous year
- +1.4 percentage points
- Largest monthly swing
- June: +3.8 percentage points
ECB Target
Inflation is 6.6% 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 €108.60 next year at this inflation rate.
Multi-year trend
Monthly figures 2022
Inflation by category
Inflation differs per product group. Click on a category for the historical trend.
Month overview
| Month | Inflation | Difference vs. 2021 |
|---|---|---|
| January | 7.1% | +2.6 |
| February | 6.5% | +1.2 |
| March | 7.4% | +1.6 |
| April | 8.4% | +2.2 |
| May | 9.0% | +3.1 |
| June | 10.3% | +3.8 |
| July | 9.3% | +1.1 |
| August | 9.1% | +0.3 |
| September | 9.9% | +1.0 |
| October | 9.5% | +0.4 |
| November | 8.8% | -0.8 |
| December | 8.3% | +0.6 |
| Average | 8.6% |
Data source
Data from WorldBank. Last updated: 06/01/2026.