TIRANA, May 4/ATA/ Governor of the Bank of Albania Gent Sejko made a presentation today on the economic situation in the country, noting that, “Inflationary pressures in world markets were stronger and more sustainable than the expectations of the BoA at the beginning of the year.”
“The conflict in Ukraine and the sanctions imposed on Russia have brought new disruptions to global production and distribution chains and increased uncertainty about the future. They were followed by a strong rise in prices in world markets and aggressive moves by central banks to tighten the monetary policy stance,” said the Governor during a press conference.
Sejko said that, “Inflation in the country increased during the first quarter of the year, reaching an average level of 4.4%. Its growth was particularly rapid in March, when inflation jumped to 5.7%.”
According to him, for the most part, the rise in inflation was caused by supply shocks, coming from rising food and oil prices.
Sejko stated that the upward trend of inflation has also reflected the rapid economic recovery over the past year, the increase in employment and wages, as well as the upward trend of inflation expectations./a.a/r.e/p.s./
