Yerevan/Mediamax/. Ex-Prime Minister Hrant Bagratyan stated today that high inflation in Armenia is conditioned by monopolization of retail market.

Mediamax reports that, speaking at a news conference in Yerevan today, Hrant Bagratyan expressed opinion that about 5 percentage points of 9.4% inflation, registered in Armenia in 2010, are conditioned by monopolization of the retail market.

“Over 60% of retail trade in Armenia is realized by four large chains of supermarkets - “Yerevan City”, “Star”, “SAS” and “Fresh”, which are owned by oligarchs”, Ex-Prime Minister stated, adding that they force small players out of the market and in fact regulate prices.