The inflation rate in Armenia in 2010 was the highest over the past 15-16 years, former chairman of the Central Bank of Armenia said.

“According to official data, the index exceeded 8%,” Bagrat Asatryan told journalists on December 23.

“The CBA has taken up the policy of 2008-2009, intervening in the foreign currency market deals,” he said. “The monopolization of the country’s economy, the rule of oligarchs and bribe takers are the reasons behind high inflation rate.”