Import prices again in decline in Q3 prompting fears of low inflation
Import industrial products are now cheaper than in the previous quarter.
INSTAT data showed this week that the import price index fell by 1.7% in the third quarter, confirming very weak external pressures on inflation in Albania.
This was the second consecutive quarter that import prices made a comeback to declining grounds, establishing a boom on the supply side in the performance of consumer prices in the country.
The decline in import prices has largely come due to lower prices for raw material and a still fragile demand on world markets.
In the Albanian economy, this tendency was followed by significantly cheaper import prices in the group of processing industry products, especially in the food and pharmaceuticals segment.
The 1.9% decline in processing industry prices has been crucial to the trend of import price index.
Although import prices of electricity increased by 7.3% on an annual basis, this did not bring any significant impact on the rise of the aggregate import price index.
Moreover, electricity is part of the group of goods at administered prices, so the price increase does not have any direct effect on consumer prices in the country.
A modest increase of 0.3% was also reported in the import prices of the extractive and mining industry.
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