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Paradox, Government fixed-price products increased the most in May

2022-06-08 18:38:28Biznes SHKRUAR NGA REDAKSIA VOX

Paradox, Government fixed-price products increased the most in May

Albania recorded the strongest monthly price growth of two decades already. According to data released by INSTAT, inflation for the month of May stopped at 6.7 percent.

The products that have suffered the strongest growth are those for which the Government has set up board to set prices.

According to INSTAT, inflation was driven by transport, directly linked to fuel prices. Transportation inflation stopped at 21.7 percent. The second highest-growing group during May were nonalcoholic foods and beverages at 11.7 percent.

Ironically, for both of these categories, the Government has set up a board that sets prices. At the last meeting, this board brought the price of a litre of oil 258 lek per litre.

Meanwhile, food, flour, cereals and oil marked the increase by nearly 30 percent compared to April, according to data released by INSTAT. Even for these products, which are considered baskets, the Government has set up a board for the sale price.

In all cases, board reports are accompanied by threats that anyone selling the above products on the ceiling price defined by them will be heavily penalized, including fines, or the removal of licenses for fuel and food retail merchants.

But as it seems all traders are happy with the profit provided by the price set by the boards, as at least in the fuel part there are points that sell it below the ceiling price determined by them.

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