The inflation indicator in Armenia was not high on the account of the strengthening of the national currency, the dram. Martin Galstyan, Governor of the Central Bank (CBA) of Armenia, said this at Thursday’s special meeting of the National Assembly Standing Committee on Financial-Credit and Budgetary Affairs—and commenting on the policy of the CBA, which did not take any steps to curb inflation in the country.

According to him, as per the respective calculations, if the dram had not gained value in April, May, and June, the inflation in May would not have been 0.1 percent, but 0.9 percent compared to April.

"That is, it would have been nine times higher. If the dram had not strengthened, a 1-percent price increase would have been observed in Armenia every month. According to preliminary calculations, the inflation indicator would have been 3 percent higher at us," Galstyan added.