In Europe, "bread" grows, in Albania, entertainment/"fun" costs us about 5 times more than Europeans
If we analyze the price increase by countries in the region, the figures show that Albania is positioned relatively well compared to some of its neighbors in the region, including Kosovo, where for May it recorded a price increase rate of 3.6%. Inflation in North Macedonia is estimated at 4.1% in the fifth month of the current year, followed by Serbia with a rate of 3.9%.
The latest data on harmonized inflation in May show an interesting picture between Albania and Europe, as while citizens of EU countries are facing higher food prices, Albanians are spending more on entertainment and culture.
In Albania, annual inflation was 2.3%, slightly higher than the European average of 2.2%. But the biggest changes are seen in the groups of goods and services. In food, the price increase was only 1.8% in our country, while in Europe it reached 3.6%. But in contrast, prices for entertainment and culture in Albania increased by a full 8.4%, compared to only 1.6% in the EU.
Albanians are also facing higher prices for furniture and home appliances by 3.4%, while in Europe this group has a rate of 0.7%. Communication also costs more here by 1.5%, while in the EU prices for this group have dropped significantly by -2.6%.
In the health and education sector, Europe seems to feel the price increase the most, education increased by 4.7% in the EU, compared to only 1.8% in Albania, while health increased by 3% in the EU and only 1.1% in our country.
On the other hand, Albania is more "soft" on rents and energy, with an increase of only 0.8%, while in the EU this category increased by a full 3%.
In May, while Europeans feel the most the increase in bread, milk, and basic services, in Albania it is the prices for leisure, furniture, and cafes that are felt most in the pocket.
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