Inflation confirms coffee price increase/ Growth rate in February, highest in the last 23 months
The price of coffee on foreign exchanges has reached high levels in recent months, while foreign trade data from INSTAT have shown a significant increase in imports in value. In January of the current year alone, the import value for this group was estimated at 471 million lekë, an increase of almost 118%.
Meanwhile, if we analyze imports by weight, we see that for January of this year the total reaches 787,834 kilograms of coffee, or in other words, about 598 lek per kilogram, up from 462 lek per kilogram last year.
These changes are also reflected in inflation data for January and February.
"Scan Intel" has analyzed the rate of increase in the price of coffee and cocoa over a five-year period to see how the changes appear.
The price increase rate for the "Coffee, tea and cocoa" group is estimated at 3% for February of this year. According to the figures, this is the highest rate since March 2023, when it was recorded at 3.2%.
Over the past year, inflation for this product reached its lowest level in May and November. Meanwhile, after November, an upward trend began, which was reflected especially in the first two months of the current year.
Given that coffee is not only a consumer product in our country, but also represents in a way a lifestyle for Albanians, the question arises whether the higher price of coffee will curb consumption.
On the other hand, in the analyses carried out earlier by “Scan Intel”, cocoa imports have also reached high values month after month. Cocoa prices have increased rapidly in various countries of the world, reaching an all-time high, due to dry weather that affected the cocoa harvest in West Africa. This happened after weather conditions in recent years were harsher than usual in the main producing countries of these products.
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