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No effective mechanisms are in place to tackle rising inflation and dram appreciation in Armenia, according to Babken Pipoyan, head of the Informed and Protected Consumer NGO.

He claims that social benefit recipients, pensioners and those who receive financial assistance from abroad are hit hardest by “relentless” price increases.

“The worst thing is that the rising trend in prices continues. A higher inflation rate is recorded with each passing month,” Pipoyan told Panorama.am in an interview on Tuesday, stressing the people’s incomes are not keeping up with rising prices.

Citing fresh data from the National Statistical Committee, the specialist says that food prices have increased by more than 17%, which may lead to empty calorie consumption and malnutrition.

"Now it is necessary not to deal with inflation itself, but to implement appropriate policies covering the relevant areas. Measures should be taken to reduce the cost of local products and support social groups, programs aimed at increasing incomes of the people should be implemented. Conventionally, the amount of income tax can be revised. It is not the best solution, but it is one of them,” he said.