TIRANA, May 23 /ATA/- The Bank of Albania announces that the average inflation rate in the first quarter of this year was 1.6%, which is up 0.3% than the value recorded in the previous quarter.
According to the BoA, inflation followed an upward trend, reaching 1.5% in January, 1.2% in February and 2.1% in March.
The increase of inflation in March played a decisive role in the average inflation rate of this quarter. This increase was driven by the unusual situation in the commodity and services markets as a result of the measures taken to stem the spread of pandemic.
Increase of inflation rate in March was completely determined by price raise of food items, who accounted for around 85% of the total inflation rate.
BoA adds that it remains committed to maintaining the stability of inflation and other economic and financial indicators.
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