Albania’s import price index near zero level

Costs of raw materials for the manufacturing industry in Albania is growing, reflecting the conjuncture of international markets.

According to data from the Institute of Statistics, the import price index was near zero in the last quarter of last year.

Although slightly at negative levels, at -0.1%, this index came in a continuous increase over the previous year.

Import prices are already rising at the most important segment of the industry, the processing industry, which holds over 95% of the specific weight in calculating the import price index.

According to INSTAT, in the last quarter of 2016 the index of import prices in this segment grew by 0.2%.

The branch with the highest growth is the oil refining industry, where prices increased by 5.2% compared with a year ago.

Other sectors of production where imported raw materials are more expensive are shoes, by 3.9%, beverages, by 3.4%, and production of clothing, by 2.6%.

Meanwhile, import prices in the mining industry and energy and water sector remain negative.

However, the import price performance shows that the costs of raw materials for business have a clear tendency towards growth.

This means that the pressures for price increases from the supply is strengthened, contributing to the growth of inflation expected in 2017.

SCAN

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