Economy expert Gent Beqiri says double-digit inflation might now be plausible in Albania, based on the annual change of the consumer price index, referring to April figures reported at 6.2% compared to 1.9% last year.
In an interview on Good Morning, Beqiri said that apart from increased prices, there’s also a downgrade of the products offered in Albanian markets.
“I am confident that inflation in Albania is a two-digit figure. Not only prices are rising, but the products that are being offered are worsening. Let’s take as an example our bread. Its price rose and its size got smaller. This is a problem, and it could potentially be the case for other products, too”, he said.
According to the expert, Albania failed to build a competitive market economy, but a “chaotic” one.
In addition, he criticized the Board of Transparency for fixing market prices, as products are imported from several places, and as a result, they come with a different price and quality.
According to an INSTAT report released a few days ago, transport and food invoices continued to soar in April, taking inflation to 6.2%.
This figure has hit a record-high since 2001, and it is forecast to burden Albanian families until the beginning of 2023.
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