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2015-2025, Albania among the 10 countries with the highest increase in food prices in Europe

Politiko 2025-05-26 12:24:42

2015-2025, Albania among the 10 countries with the highest increase in food

Albania ranks 10th out of about 40 European countries for the high increase in food prices between 2015 and March 2025.

Data from the Harmonized Index that the EU uses to compare price changes in Europe shows that since 2015, Turkey has led the way in terms of high food inflation due to the inflation waves of recent years (see chart below), and on the other hand, Switzerland had the lowest increase.

The Albanian food and non-alcoholic beverage price index in March of this year was 167% (2015=100), which means that from 2015 to March 2025, food prices in Albania have increased by 67 percent, one of the highest levels in Europe.

Food prices in Albania increased by 14% more than the EU average during this period. Eurostat ranks Albania 10th out of 40 economies, while countries with unusual developments, with very high inflation (e.g. Turkey 1,470, Hungary 210) are ranked ahead of us.

Albania also had the strongest price growth in the Balkan Region, excluding Serbia.

The rapid increase in food prices compared to other countries in Europe is harming long-term convergence (achieving EU living standards).

On the one hand, pressure on consumption from foreign visitors and on the other, an aging population are creating an environment of ever-higher prices. Positive developments in tourism are not boosting agricultural production, and the country has increased its dependence on imported food supplies in recent years. While this dependence is growing, policies that address the structural costs of the food supply chain are lacking.

To mitigate the consequences of high inflation after the war in Ukraine, all European countries, including those in the region, applied aggressive policies in increasing wages and pensions. Albania has made some interventions, especially in the public sector, but still lags behind.

In Albania, the average gross monthly salary for 2024, according to INSTAT, reached 77.5 thousand lek/month, or about 770 euros. The highest average gross monthly salary is in Serbia, at 1150 euros per month (135,403 Serbian dinars). In Bosnia and Herzegovina, the salary is almost 1100 euros (2140 Bam). In Montenegro the salary is 1083 euros. North Macedonia also pays employees on average more than a thousand euros per month, specifically 62 thousand Macedonian dinars, or 1020 euros per month./MONITOR

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