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The rise in prices was unstoppable even in December, while inflation has reached the highest level in 11 years.
Inflation is rising rapidly due to the prices of energy products that have reached record levels, while oil and gasoline continue to be traded at the levels of 185 and 187 lek, almost 20% more expensive than during the pandemic that were at the level of 160 lek.
Meanwhile, the strongest increase was experienced by gas with an increase of over 70%, while today it is traded at 94 ALL / liter.
After transport, inflation has been driven by food prices. All food products have increased, with traders blaming high import prices but also unfavorable domestic production. In December, these reasons were compounded by the speculations made by traders for the end of the year, where the increased prices of turkey were more noticeable.
In addition to these groups, the prices of entertainment, rent, clothing and tobacco have also increased this year.
Food makes up 40% of the costs of an average family in Albania and with their price increase more than half of their money will already go to meet this need.
High inflation can turn into a serious problem for the economy in conditions when the purchasing power of citizens drops significantly, while money in bank deposits continue to depreciate. Also, the Central Bank may be forced to raise interest rates because inflation has significantly exceeded its 3% target, which would bring additional costs for home mortgages.
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