Prices for goods made in Albania register a smaller increase

Prices for goods made in Albania register a smaller increase

Production costs for Made in Albania at the end of last year were lower. For this reason, price increase for these products was smaller than other years. This has been confirmed by the latest report of the country’s office for statistics, INSTAT. According to this report, it looks like the rising production cost has stopped at the end of last year.

These costs have only increased by 0.5% and this is the weakest increase registered during the course of last year. On the other hand, this means that producers have also sold their goods at a lower price. The price of sale for a particular product or a group of products has an impact on consumer prices, because if producers increase prices, then this increase will also be reflected on retail prices. Here we can mention food industry. Last year, production costs in this sector registered a fall of 1.9%. On the other hand, processing industry has also registered a significant decline in production costs of up to 1.5%, thus reflecting another aspect of cheaper consumer prices for these goods. But let us not forget the production costs in the extraction industry, which includes crude oil. Last year, increases in production costs for this sector were 4.3% and this had a very negative effect on consumer prices.

Prices for Albanian exports also fall

Another positive impact of the fall of production costs at the end of last year was the fall of prices for export goods. “They have registered a fall of 2.1% compared to the previous quarter. Meanwhile, compared to the same period a year ago, prices for these goods fell by 0.8%”, experts of the office for statistics say.