YEREVAN /ARKA/. The topic of inflation has not become dominant during the current elec- tion period in Armenia, as often happens in many countries, said Martin Galstyan, Chairman of the Central Bank of the Republic of Armenia, an- swering a question from the ARKA news agency about whether the regu- lator records changes in the expectations of the population dur- ing the electoral cycle. According to him, in many coun- tries – both developed and developing – during election campaigns, inflation becomes one of the key topics of so- cio-political discourse. “We don’t see this, because in re- cent years, thanks to our management, the problem of inflation in Armenia has been solved. Does this mean we rule out painful shocks? No. But our assurances that we are there and that we will solve the problem of inflation, I think, have a perception in our society,” Galstyan said. According to statistical data, in- flation in Armenia in April amounted to 5.3% in annual terms compared to 4.5% in March. In the RA state budget, the target indicator is set at 3% with a permissible deviation of ±1.5 percent- age points. The Central Bank’s report on mon- etary policy for the first quarter of 2026 states that inflation in Armenia by the end of 2026, depending on the scenario, is expected to be in the range of 4.4–3.3%. The forecast for 2027 is 3.5–3.1%, for 2028 – 3.2–3.1%.