Albanian citizens are faced with the highest price growth in 10 years, with prices suffering a significant spike during the month of November.
Fuel and food products were sold at a much higher price than the previous months. Inflation in November reached 3.1% – the highest rate in the last 10 years.
The price of items in the basic food basket also saw a rise in November. Amongst them, the items experiencing the biggest growth were vegetable oil, milk, bread and eggs.
Meat and sugar were also sold at a higher price, as compared to last year, these products were 5% more expensive or an additional 1.700 Albanian Lek that an average family needs to procure each month.
This wasn’t all. For all car owners, every liter of fuel cost 20 Lek more.
Citizens are also paying more for products in café and restaurants –2.4% more, to be precise.
INSTAT reports that the 3.1% inflation rate reached in November, has been the highest fluctuation that we hadn’t seen since 2011.
In fact, according to the Bank of Albania, which is the one making decisions in the market, inflation should go past 3%.
Recovery from the pandemic has had a detrimental effect on the price crisis, which doesn’t seem like it is going to stop any time soon.
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