LEGISLATIVE AND INSTITUTIONAL FRAMEWORK FOR MITIGATING PRICE INCREASES IN THE REPUBLIC OF ARMENIA

Abstract

By initiating legislative changes that will lead to significant changes in prices for
socially significant goods, the government should develop measures to mitigate the
effects of inflation. The legal regulation of price stability, assessing the level of inflation
and predicting its dynamics are of great importance, since they make it possible to
assess the degree of damage caused by this phenomenon and to contribute to the
implementation of anti-inflationary measures. Inflation control in the Republic of
Armenia is regulated by the RA Law "On the Central Bank of the Republic of
Armenia", the RA Constitution and other legal acts. It is important that the powers of
the State Commission for the Protection of Economic Competition be legally expanded
in order to take more decisive measures in case of unjustified price increases in highly
concentrated commodity markets and to provide appropriate proposals to curb
inflation in case of problems.