We surpass even the European Union for the rate of increase in prices, especially those of consumption. Harmonized Price Index or in other words inflation measured according to the Eurostat method for the month of October reached 4.7%.
While according to the Albanian Institute of Statistics, the price change gauge fell in October to 3.8%, again it is higher than the average calculated by the European Union.
For economic experts, in addition to the influx of tourists to the country, the main pressure on high inflation comes from informal money.
"The arrival of tourists in Albania brings more demand for the products, exerting pressure on the price. But another thing that has an insidious effect is the amount of money in the economy that comes from other avenues. And this exerts greater pressure," says economic expert Pano Soko.
The highest price increase in Albania was influenced by categories such as "Entertainment and culture" 8.5%, followed by the groups "Food and non-alcoholic drinks" with 7.7%, "Hotels, cafes and restaurants" with 5.8%, etc.
Consequently, the most affected layers remain those in need.
"The main consequences on which the Albanian society is hit is the consumption layer. 95% of the layer responsible for consumption is the lower layer which takes the biggest hit. Within a month you can have a doubling of the poor just because of the way inflation is managed. In this year's budget I didn't see any special attention except for a small pension indexation fund."
The average price increase in Europe for the last month was recorded at 3.6%.
Out of 36 countries, Albania ranks 15th for the highest price increase, while Kosovo and North Macedonia have a lower rate at 3.3%, 3.4%. While the highest price increase according to the Eurostat method was observed in Turkey and Hungary. (A2 Televizion)
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