TIRANA, Oct 4 /ATA/ – Albania’s inflation rate pursued a downward trend in the third quarter of 2023 at 4.2% and 4% in July and August respectively, the Governor of the Bank of Albania Gent Sejko told a regular monthly press conference on Wednesday.
Central bank Governor said that the fall in inflation has been at a relatively broad base across various items of consumer basket.
Nevertheless – Sejko went on saying – the declining pace slowed down in the third quarter, while price inflation of services, rent and durable goods showed overall stable, by exhibiting both the high demand and the increased production costs in Albania.
“From the macroeconomic perspective, inflation declined on the back of the reduced imported inflation, while domestic inflationary pressures – though trending downwards – appear more stable,” Sejko said.
According to Sejko, “the reduced imported inflation reflected the stability of prices in international markets and the appreciation of lek exchange rate in the last years.”
“By contrast, the fast growth in wages and production costs has dictated the stability in the domestic inflationary pressures,” he added.
According to Sejko, the stabilisation of imported inflation at low rates, a more balanced performance of demand and supply for goods in Albania, as well as the gradual convergence of inflation’s expectations to the target, will lead to the further reduction in inflation over the next quarters.
/r.e/u.sh/
