Import Prices Up Despite Euro Devaluation
Despite the depreciation of the euro has reduced the cost of imported products, prices for Albanian consumers continue to rise. This trend is also confirmed by data from the Institute of Statistics (INSTAT), which highlights a strong contrast between the purchase price from abroad and the final price on the domestic market.
During the first four months of 2024, the average price of one kilogram of imported grain has fallen from Lek 46.4 to Lek 37.6 – a decrease of about 19%.
However, this decrease has not been proportionally reflected in the market, as the price of bread and other processed products continues to remain at high levels.
The same situation is also observed in the fruit and vegetable trade. While in the same period a year ago, the average import price for one kilogram of vegetables was Lek 72.5, it has currently decreased to Lek 64, marking a decrease of about 12%. However, instead of leading to lower prices for the consumer, fruits and vegetables have become more expensive in the country's markets.
The situation is no different in the category of meat and its products, including dairy and eggs. Although import prices for these products are falling, consumers continue to buy them at high prices in supermarkets, neighborhood stores, or open markets.