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Everything becomes difficult! Inflation "jumps" to 7.4%, the highest level since the time of the pyramids

2022-07-08 13:28:55Biznes SHKRUAR NGA REDAKSIA VOX
Everything becomes difficult! Inflation "jumps" to 7.4%, the highest
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Prices have continued to rise even during the month of June, further worsening the finances of Albanian families who have to spend more to buy the same amount of products, while their incomes have remained almost the same. Food, for which families spend 42% of the budget, the highest share in Europe, and fuel have marked the strongest increase in prices.

INSTAT announced that Inflation, which measures the change in the prices of a certain basket of goods, reached 7.4% in June, from 6.7% that was in May and much higher than January of this year, when the indicator was 3.7%, marking another new record of the last 20 years, since March 2002, when the indicator reached 7.4% and is reaching the highest level since the time of the pyramids in 1997, when it was over 40%.

Whereas in June of a year ago, inflation was only 1.6%.

According to INSTAT, the annual price increase in June was mainly influenced by the "Food and non-alcoholic beverages" group with +4.38 percentage points, followed by the "Transport" group with +1.53 percentage points. Prices of the group "Rent, water, fuel and energy" with +0.54 percentage points. The prices of the "Furniture, home appliances and home maintenance" group increased by +0.28 percentage points. The prices of the "Hotels, cafes and restaurants" group contributed with +0.25 percentage points. The prices of the "Alcoholic beverages and tobacco" group increased by +0.23 percentage points. The prices of the "Clothing and shoes" group increased by +0.07 percentage points. Prices of the group "Various goods and services" with +0.05 percentage points. The prices of the group "Communication" and "Educational service" with +0.02 percentage points each. "Health" group prices with +0.01 percentage points.

Annual changes of the main groups: Compared to the month of June 2021, the biggest increase in prices is observed in the group "Transport" with 26.9%, followed by the groups "Food and non-alcoholic beverages" with 12.6%, "Hotels, cafes and restaurants" with 5.6%, "Alcoholic beverages and tobacco" with 4.7%, "Furniture, home appliances and home maintenance" with 3.8%, "Rent, water, fuel and energy" with 2.8 %, "Clothing and shoes" with 1.6%, "Miscellaneous goods and services" with 1.0%, "Communication" and "Educational service" with 0.6% each and "Health" with 0.3%. On the other hand, the "Entertainment and culture" group decreased by 0.9%.

Within the food group, the prices of the subgroup "oils and fats" increased by 30.3%, followed by the subgroups "bread and cereals" by 19.1%, "milk, cheese and eggs" by 18.5%, "sugar , jam, honey, chocolate and pastries" with 14.3%, "vegetables including potatoes" with 10.3%, "meat" with 9.0%, "fish" with 8.6%, etc.

Monthly changes of the main groups: Compared to the month of May 2022, the prices of the group "Food and non-alcoholic drinks" decreased by 1.4%, followed by the groups "Entertainment and culture" by 1.3% and "Communication" by 0.2 %. On the other hand, the prices of the group "Transport" increased by 4.5%, followed by the groups "Furniture, household appliances and home maintenance" by 0.6%, "Hotels, cafes and restaurants" by 0.5%, "Clothing and shoes", "Health" and "Miscellaneous goods and services" with 0.2% each and "Rent, water, fuel and energy" with 0.1%.


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