Prices in Albania are decreasing more slowly than in the EU, due to food

2023-10-18 14:00:15Biznes SHKRUAR NGA REDAKSIA VOX
Prices in Albania are decreasing more slowly than in the EU, due to food
Illustrative photo

The measurement according to the Eurostat methodology of inflation in our country shows that in September prices increased by 4.9 percent, as much as in the countries of the European Union.

The figures prove that the drop in prices in Albania has been slower than those in the European market. The data show that in January, inflation in the countries of the European Union was almost 10 percent, while in Albania it was 7.2 percent.

The measurement methodology according to European standards shows that in the following months, the inflation in the EU fell at a faster rate than the inflation in Albania, to be equalized in the figures in the month of September.

The reason is related to the main groups that have influenced keeping it at high levels. According to Eurostat data, the high prices in the EU have been influenced by energy, gas prices and the panic that gripped the markets after the blockade that the West imposed on Russian fuels.

In Albania, fuels kept inflation high throughout last year, while this year the main group is food and non-alcoholic beverages.

Instat data show that in September, inflation in this group was 8.4 percent. Even in the EU, inflation for this group has been at these levels, but in Albania it is felt more in general inflation due to lower incomes. The data suggest that Albanians spend almost 40 percent of their monthly income on food, while in the EU this figure is less than 10 percent.

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