Given that inflation has begun to affect more products, the price increase has not yet reached its apex. According to INSTAT, the rate of inflation in September was 8.1%, with food prices accounting for the majority of the increase.
Although inflation is projected to be 8.1%, food and beverage prices have increased by a full 14%. Oils costing 30% more than other market items like milk, dairy goods, and eggs, bread and cereal costing 17.3% more than meat, and so on.
Making ends meet is become more challenging because nearly half of a family’s costs are for food. Import prices account for the majority of inflation, which is why experts recommend taking action to strengthen domestic output. Only in 2024 do the Bank of Albania and the International Monetary Fund predict that inflation will fall below 3%.