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A devalued euro is hurting exports, but on the other hand, imports seem to have benefited even more in 2024. The goods that Albania is buying from foreign markets have recorded the lowest prices in the period January-June 2024. The data provided by INSTAT show imports recorded the lowest price index in the last two years, precisely in the second quarter at 108.3%.
"The fact that prices are heading towards an anchor despite being on the rise is something to be expected as we slowly enter the second year of this energy and raw material crisis. We are noticing trends of the strengthening of the lek and the weakening of the European currency. But despite the weakening, imports are increasingly expensive. Both costs and the macro situation affect these figures", says Igli Tola, lecturer, economics expert, for A2 CNN.
Moving in parallel with the fall of the euro, which up to 6 months was devalued by about 5 percentage points, the data show that it is precisely the extractive and processing industry categories that have had the greatest impact on the drop in prices.
Within this group, food and drinks also show a drop in prices.
Compared to imported products, locally produced ones are still expensive. The indicator which measures the prices of domestic products in the first link of production reached 129.3% in the April-June period.
When this group accounts for almost half of family expenses, the situation still feels heavy.
"Those sectors that make up daily consumption and supply the markets, they are directly affected by the inflationary situation and are reflected in the prices of the final consumer", says Tola.
It is the energy, extractive and processing industry that influenced the high prices in domestic production. While food and beverages as a subcategory continued to grow further./A2CNN
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