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Inflation and inflation expectations 1.2. Inflation and inflation expectations Inflation and monetary policy in the context of persistent shocks The labour market and inflation

anchored inflation expectations are across various groups of domestic economic agents. It is easier for the central bank to keep inflation to target when inflation

and inflation expectations are still elevated, with meaningful inflation drivers of a temporary nature expectedly having materialised in January. A further decrease in inflation to

know, we analyse inflation and inflation expectations and they are interconnected. If inflation is sufficiently low and reaches our target, while inflation expectations stay high

the inflation forecast for 2026 has been raised to 4.5–5.5%. Inflation expectations remain elevated. This may impede a sustainable slowdown in inflation.

Organized by of external communication materials Central Bank of Armenia (for example, inflation reports) Objective Duration 4 days To study theory, strategy and practical aspects

2026 2027 2028 (actual / estimate) Inflation, as % in December year-on-year 5.6 4.5–5.5 4.0 4.0 Inflation, average for the year,

MPR findings by mid-2028. The analysis will comprise six work streams, specifically ‘Inflation target format’, ‘Operational framework of monetary policy’, ‘Retrospective assessment of the effectiveness

analyse the dynamics of inflation processes Russian Journal of Money and Finance, 1, 105-128 (2025) Tereshchenko D., Shcherbakov V. Regional inflation and the age structure

2026 INFLATION RATE INCORPORATED IN BUSINESS PLANS Participants in the monitoring mainly based their 2026 business plans on the assumption of the average annual inflation