The cost of living will be going up during 2022, according to reports published today by the Bank of Albania. Bank Governor Gent Sejko said that this will be a result of high inflation which will reach well over 3% in the coming months.
According to Sejko, the inflation rate will only go back to its usual levels by 2023.
“Inflation in our country saw a sharp rise during the fourth trimester of 2021, reaching 3.7% in December,” – said Sejko.
Surging inflation can be witnessed when looking at the change in prices of almost all basic food items.
In addition, high inflation was noticed in the rising prices for processed food and fuel.
The governor also declared that the average wage went up by 6.9% and around 8% in the private sector.
On the other hand, Sekjo said that unemployment went down to 11.3%.
According to INSTAT, the Albanian economy has grown by 10.4% so far this year.
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