Albania’s Import Price Index marks slight increase overturning trend

The import price index for the domestic industry returned to a positive annual growth in the first quarter of this year.

According to the Institute of Statistics, the costs of the imported raw materials are increasing gradually, pursuing the conjuncture of international markets.

In lower proportions, the import price index is following the upward trend of the production price index in the country, which, as reported Monday by INSTAT, rose by 5.1% in the first quarter.

Import prices are now rising in the most important segment of the industry, the processing one, which accounts for over 95% of the specific weight in the calculation of the import price index.

According to INSTAT, in the first quarter of 2017, the import price index in this segment grew by 0.4%.

The segment with the highest growth is the processing of textiles by 6.3%, while import price index increased even in the oil processing sector by 3.8%.

Import prices in the extractive industry and energy sector and water remain in negative territory, but, however, the performance of import prices clearly shows that raw materials costs for businesses have a clear tendency towards growth.

This is a prerequisite for increased inflationary pressures this year.

SCAN

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