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The Real Causes of Inflation and Perspectives for Overcoming Them: The Case of Armenia

The consumer price index (CPI) is an inadequate measure of inflation in Armenia, which is a transition country that faces a number of difficult challenges. The increases in food prices that most affect lower income Armenians has been referred to as agflation, and this concept would better embody the issue of inflation in the country.

Changes in the measurement of inflation should be placed within the context of the necessary creation of a developmental model that will help the country to takes the next steps towards economic and social development on a sustainable and inclusive basis.

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