Wage growth significantly surpasses inflation indicators, says PM

The average monthly salary in 2024 was 287,172 drams, which is a 66,3% growth compared to 2018, Armenian Prime Minister Nikol Pashinyan has said.

Pashinyan said at a Cabinet meeting that the pace of wage growth has significantly surpassed the inflation indicators.

“The inflation registered since 2018 until today is 25,3%. Meaning, the salary growth is approximately 40% more than the inflation indicator. We must take into account that the inflation impact varies for employed and unemployed citizens. It is clear that unemployed people feel the inflation indicator differently than those who are employed and get salary.”

Speaking about January 2025 data the PM said the average salary was 296,651 drams, a 74% increase compared to January 2018.

“In 2024, compared to 2023, the inflation was 0,3%, whereas the salary growth was 6,4%. In January 2025, compared to January 2024, the inflation was 1,7% while the salary growth was 4,6%,” the PM said.