TIRANA, April 14 /ATA/ – Albania inflation significantly slowed down to 6.49% in March from a record high rate of 8.74% in January and February 2023, data from the Bank of Albania showed on Friday.
The average inflation rate in economy has significantly decreased over the past few months and it fell to 5.3% in March, the lowest rate since February 2022. The inflation decline is mainly driven by the fall in oil prices.
Despite the fall in recent months, inflationary risks are still high. The government’s announcement for a strong increase in public sector wages this year is expected to support the resilience of domestic demand and keep inflationary pressures high.
Albania’s central bank decided to raise its policy rate to 3.00% from 2.75% in March in a bid to facilitate the return of inflation to target.
/r.e/u.sh/
