Rising prices squeeze Armenians as households cut back ahead of New Year

Many Armenians say surging prices for food, transport and utilities have left them struggling to make ends meet, with some saying they will forgo New Year celebrations as incomes fail to keep pace with the cost of living.

In street interviews conducted by Panorama.am on Friday, Yerevan residents said price increases had become a daily reality in recent months, hitting basic goods such as bread, meat, cooking oil, dairy products and medicines the hardest.

“Everything has gone up. There isn’t enough money for anything,” one resident said, pointing to higher prices for dairy and other staples.

Another said festive shopping was out of reach this year. “If it’s not enough, we won’t buy. We’ll eat bread and cheese,” the person said.

Official statistics show consumer prices in November rose 3.1% from a year earlier, while food and non-alcoholic beverages increased by 3.8%. No official figures have yet been released for December.

The burden is particularly heavy for socially vulnerable groups, including pensioners, large families and people renting homes, residents said.

With essential goods accounting for a growing share of household budgets, many Armenians say it has become increasingly difficult to maintain their previous standard of living.