May 31 (SeeNews) - Albania’s central bank projections indicate a potential 4.5 percentage point increase in the country's inflation for the 2022-2024 period, without the impact of economic policies implemented after a 6.7% acceleration in 2022, governor Genc Sejko said on Wednesday.
“The first effects of our response are visible in the curbing of the inflation growth. After a progressive increase until October, it slowed down to 7.4% at the end of 2022 and 4.6% in March 2023,” Sejko said, as cited on the central bank's website.
The central bank raised the key rate to 2.75% by the end of 2022, from 0.75 in the beginning of the year. The policy rate was raised again in March 2023 to 3%, while inflationary pressures remained high, the central bank said earlier.
Inflation is seen to decline during the next quarter and return to the 3% target by mid-2024, Sejko said earlier.