Price hikes in Albania, inflation hits 7.4%

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Albania and Europe are facing a continuous rise in market prices.

Inflation hit 7.4% this June in Albania, and 8.7% in the EU.

Data show that transportation and food put the most strain on Albanian families.

In addition, services in bars and hotels have also become more expensive.

The greatest increase was seen last month in cooking oil, wheat, and car parts. Sweets and vegetables have also gone up by 10%.

On the other hand, energy suffered a 42% rise in Europe, whereas food and tobacco prices went up by 8.9%, along with other products and services, due to an 8.6% inflation.

In addition, even though prices in the EU went up by a higher margin, the crisis was felt more at home because Albanian families spend around 40% of their monthly income on food, as opposed to Europeans who only spend around 15%.

In June, the government decided to shut down the temporary relief package for low-income families, giving no signals that a new package might be introduced in the near future.

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