Inflation for the month of August was fixed at 2.4%, where the difference was once again caused by the cost of the basic food basket, which is expected to meet the Minimal Essential Standard of Living.
However, if you take a closer look at market prices, essential goods aren’t the only product whose prices have skyrocketed, but rent, as well as entertainment prices, has gone up.
Data published by INSTAT, Albania’s public statistical institute, on inflation provide a sense of orientation, not just a perception, but rather the real cost of living in Albania, which is becoming increasingly unbearable by the day in face of the average salary of citizens.
Numbeo, an agency focused on cost analysis of the standard of living around the world, compared living in Tirana to other capitals in the region, such as Prishtina, Skopje, and Sarajevo. In all cases, Tirana topped the list – in other words, the most expensive capital in the Western Balkan countries.
According to the same agency, the cost of living for a resident in the Albanian capital for the month of August, reached ALL 51,300 (€421) – around ALL 3500 less than the average wage (€465).
Meanwhile, a family of four should make sure they bring in a combined salary of no less than ALL 181 000 / per month (€1,486).
But on what does an average Albanian family spend their wage on? According to INSTAT, the main expenditure is on groceries, followed by rent and transportation, whereas entertainment and clothes take up the lowest percentage. Apart from paying really high prices for food, Albanians have the lowest salary in the region, and this makes the burden even heavier.
In Europe, Switzerland and Norway are the countries with the highest cost of living, whereas according to a ranking, out of 566 regions, Tirana ranked 410.
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