Open AccessԳնաճը՝ «ճիշտ ժամանակի՞ն»։ Սպասելի, բայց չկանխատեսված գնաճի քրոնիկոնը և դրա Հայաստանյան արտացոլանքը / Was Inflation at the «Right Time»? Expected but Unpredicted Inflation and its Armenian Reflection
Author(s) -
Narek Karapetyan
Publication year - 2022
Publication title -
amberd
Language(s) - English
Resource type - Journals
ISSN - 2579-2989
DOI - 10.52174/2579-2989-2022.1-5
Subject(s) - inflation (cosmology) , armenian , economics , recession , debt , monetary economics , keynesian economics , deflation , monetary policy , macroeconomics , philosophy , linguistics , physics , theoretical physics
After the deep recession of 2020, the recovery of the global economy in 2021 is progressing within a high inflation environment. And despite the unprecedented increase of money supply and disruptions in productive capacity during 2020 in the advanced economies (which, following the basic principles of economics, are inflationary in their nature), the acceleration of inflation was totally unpredicted.Moreover, even during its acceleration, the central banks of advanced economies were considering it to be transitionary, simply waiting for it to neutralize by itself. As a result, the inflationary pressures were transmitted to the Armenian economy, bringing almost a 10 percent increase in consumer prices and a 17 percent increase in food prices. Meanwhile, the advanced economies needed an «unpredicted» inflation exactly like this – to inflate away the increase of debt during 2020. And it came at the right time.