CBA: inflation impact from transport fare hikeestimated at max 0.1%

PanARMENIAN.Net - The chairman of the Central Bank, Martin Galstyan, has stated that the increase in Yerevan’s public transport fares may cause inflation to rise by no more than 0.1%.

According to Galstyan, urban transport accounts for 0.4% of the total basket of goods and services in Armenia, based on the methodology of the Statistical Committee. Specifically, the share related to Yerevan’s transport is 0.23%, while the rest pertains to other regions, Sputnik Armenia reports.

Galstyan clarified that the 0.1% inflation figure is the upper limit of the possible impact. This calculation assumes that the fare for all passengers will rise to 150 drams, meaning a 1.5-fold increase. However, some passengers benefit from discounted fares.

Since February 1, former Yerevan Mayor Hayk Marutyan, the "Mother Armenia" faction in the city council, and youth movements have been protesting the fare increase, urging people to pay only 100 drams.

The Yerevan City Council passed the decision with 33 votes in favor, setting the new fare at 150 drams starting February 1. Additionally, a unified ticketing system will be introduced. Those who purchase 30-day, 90-day, or 365-day passes between January 1 and February 28 will receive an additional 30 days of use.