The drop in import prices by 1.9% in January-March heralds low inflation

2024-06-05 18:46:00, Ekonomi CNA

Compared to the first quarter of 2023, the import price index decreased by 1.9%, a year ago this change was with an increase of 1.2%.

The decrease in import prices heralds a decrease in inflation in the future.

According to INSTAT, the import prices of products in the section "Extractive industry" decreased by 2.9%, followed by the section "Electricity, gas, steam and air conditioning" by 2.5%, "Water supply, treatment activities and waste management" with 1.4%.

The drop in import prices by 1.9% in January-March heralds low inflation

Prices in the "Manufacturing industry" section with the largest share of 93.5% recorded a decrease of 1.8%. Within this section, the largest decrease in prices is observed in the products of the activity "Printing and regrouping of recorded media" by 5.6%, followed by "Production of wood and wood and oak products, except furniture; production of straw and reed products" with 5.0%, "Production of tobacco products" with 4.1%, "Processing of textiles" with 3.8%, "Production of rubber and plastic products" with 3, 2%, "Production of machinery and equipment pkt" with 3.0%.

On the other hand, prices in the activity "Production of fabricated metal products, except for machines and equipment" increased by 2.8%, followed by the activities "Production of other means of transport" by 1.4%, "Production of beverages" with 1.1% and "Other industries pkt" with 0.2%.

The drop in import prices by 1.9% in January-March heralds low inflation

Compared to the fourth quarter of 2023, prices in the section "Electricity, gas, steam and air conditioning" decreased by 1.8%, followed by the sections "Extractive industry" by 0.8% "Manufacturing industry" by 0.7 %.

Within the "Manufacturing industry" section, the largest price decrease is observed in the products of the activity "Coke processing and petroleum by-products refinery" by 2.5%, followed by "Manufacturing of wood and wood and oak products, except furniture, production of straw and reed articles" with 1.6%, "Printing and regrouping of recorded media" with 1.3%, "Clothing making" with 1.2%, etc. On the other hand, the prices of the section "Water supply, waste treatment and management activities" increased by 1.2%.

The Import Price Index starting from the first quarter of 2024 will be calculated with the new base. The year 2021 will serve as the base period for calculating the index (Year 2021=100)./ Monitor.al

The drop in import prices by 1.9% in January-March heralds low inflation