YEREVAN, May 18, /ARKA/. Russia’s invasion of Ukraine has raised prices for everything from energy to wheat, adding to inflationary pressures worldwide, The Financial Times says.
The newspaper has created a global inflation tracker, providing a regularly updated visual narrative of consumer price inflation around the world, including economists’ expectations for the future. The tracker enables visitors to see how their countries compare on rising prices. According to the tracker, Armenia’s inflation in March was 7.4%.
The newspaper says the inflation has hit its highest level in decades in many countries, with Russia’s invasion of Ukraine pushing up energy and food prices and squeezing households’ real incomes.
It says price pressures — and growth downgrades — have increased, triggered by the conflict. Some economists fear a return to the chronic inflation and recessionary environment of the 1970s.
High inflation remains geographically broad-based. Consumer price growth has even started rising in Asia, a region that until recently had largely been an exception to the worldwide pattern.
In developing countries, the wholesale cost of these ingredients has a larger impact on final food prices; food also accounts for a larger share of household spending. Another point of concern is asset prices, especially for houses, the newspaper says.
According to Armenia’s National Statistical Committee, the 12-month inflation in April 2022 was 8.4%. -0-.
