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Strong price increases have significantly increased inflation in November, exceeding the Bank of Albania target.
According to INSTAT, the inflation rate last month reached 3.1%, the highest level in 10 years, exceeding the central bank forecast of 3%.
Almost all groups have seen an increase, where the strongest increase in prices that has most affected inflation has been observed in the products of the basket for food and beverages, where Albanians spend the main part of their family budgets.
Transport has also marked a significant increase due to the continuous increase in fuel prices, mainly the price of oil that has long been traded for 185 lek per liter, but also other products such as gasoline and gas used for transport.
The increase in prices is also reflected in the rent, water and electricity payments, while the furnishing and furnishing of houses is becoming more expensive for the citizens.
Meanwhile, the costs have also increased to go to cafes and restaurants, as the increase in the price of coffee and other products has continued to increase throughout November, as a result of the increase in the price of raw materials in foreign markets.
The Bank of Albania estimates that this wave of price increases that will continue to have an impact on inflation is temporary, while emphasizing that if necessary it can intervene in the direction of monetary policy to maintain price stability in the country.
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