Out of 51 groups of goods and services that serve to measure the average inflation, in 34 of them the prices increased more than the average throughout 2024.

According to INSTAT data, last year inflation reached 2.2%, but most of the basic products grew above this level, Monitor reported.

Vegetable prices increased by 6.2%, air conditioners (5.4%), and hotel accommodations by 5.2% had the highest price increase in 2024. Children's clothing (5.1%), and household goods and services, 4.8%, were also above average. The water tariff, which is regulated by the state through the Water Regulatory Authority, has also increased more than the average inflation.

Detailed data show that food and household goods have marked an increase above the average inflation. All goods and services related to the home, such as electrical appliances, upholstery, and furniture have increased by 2.5 to 4%. On the other hand, during the past year, the average prices have decreased for 6 groups of goods and services.

The largest decline was experienced by the "Oils and Fats" group with -2.7% compared to 2023, reflecting the high price base in this product after the war in Ukraine where the price of fats in the global markets reached a record during the years 2022-2023.

The prices of means of transport also decreased by 2.4% compared to 2023, followed by audio-visual equipment by 2.4%, services to means of transport by 2.1%, and the prices of fruits which were reduced by 0.9%.

The basket of monthly consumer goods in Albania is still dominated by food. The data show that about 60 percentage points of inflation consists of an increase in food prices.

According to INSTAT, food and non-alcoholic beverages account for 40% of monthly expenses in Albanian families in 2023. Albania ranks first in Europe for the high weight of food in the monthly expenses of its inhabitants, an indicator of a high level of relative poverty.