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Why Eurozone inflation questions real price rise in Albania

2022-04-22 20:46:36Biznes SHKRUAR NGA REDAKSIA VOX

Why Eurozone inflation questions real price rise in Albania

The Eurozone recorded a record price increase in March, where inflation stopped at 7.4 percent, according to data released by Eurostat.

Stronger price growth recorded eastern countries more dependent on trade with Russia and Ukraine. Lithuania scored the record with 14.6 percent. Estonia at 14.8 percent, Czechia at 11.9 percent. The lowest inflation was recorded in Malta at 4.5 percent.

In France, 5.1 percent was registered, Portugal 5.5 percent. Germany captured the figure 7.6 percent, Italy 6.8 and Greece 7.9 percent. The highest growth was energy and then services and food.

Inflation in the Eurozone is almost two percentage points higher than that announced by Instat in Albania. According to Instat, inflation in our country was 5.7 percent in the month of March.

But the figure is questioned. The Albanian economy is still developing and with major problems in market structure, which in many sectors has the trajectory of an oligopolis, from fuels to food.

Indirectly, these oligopolies and price abuses have also known the Government itself, when it established the establishment of transparency boards for determining fuel prices and basic food.

That said, in Albania with a market controlled by a handful of people, price growth was lower than their growth in Eurozone countries, with consolidated and competitive markets and moreover with state structures that 'fall on their heads' with fat fines than whenever they find abuses.

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