Because of the severe price situation, the Bank of Albania raised the basic interest rate from 1% to 1.25 %.
This move is being made in reaction to the highest levels of inflation in history, according to the agency in charge of monetary policy.
Experts warn that an increase in the basic interest rate will cause another negative economic phenomena.
Meanwhile, the Bank of Albania and the country’s economic analysts warn that the inflation rate, or the devaluation of money in the face of growing prices, will continue at least through the end of next year.