Inflation towards zero, INSTAT: “Caused by lower oil price”
08/04/2016 19:35
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Albania is still facing a weak price increase. The Institution of
Statistics announced that the annual inflation for March was 0.3%, from
0.2% that it was in February.
This the first time in many years that inflation stays close to zero for two consequent months. This situation is considered as harmful for the economy, since it shows lows levels of consumption.
Detailed data from INSTAT confirm that the main cause of the inflation is the lower oil price. However, other groups like health care and clothing have also seen lower prices.
The two elements with higher prices are food and education. The Bank of Albania reduced the basic interest rate to a new historic minimum of 1.5% to support production and not allow the passing of the economy to deflation.
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