Over the past 10 years, Albania has approached EU price levels faster than any other country in the Western Balkans region.
According to data from Eurostat, in 2015 the price level based on purchasing power was 48% of the EU average, making Albania one of the cheapest countries in the region, alongside North Macedonia. Over the decade, however, wages have remained the lowest in the region, while costs have increased significantly.
In 2024, overall prices reached 70% of the EU average, ranking Albania as the most expensive country in the region, surpassing Serbia and Montenegro, which have historically had the highest prices. Eurostat measures the price level indicator relative to the EU average, based on purchasing power, where the EU average is set at 100%.
These statistics show how expensive prices are in a country compared to the EU average, taking into account purchasing power—that is, how many goods and services can actually be afforded with the same amount of money.
A decade ago, prices in the country were about half of the EU average, whereas in 2024 they reached around two-thirds of the EU level. Notably, food prices, for the first time, reached the EU average at 101% and were the highest in the region.
The post Albania, a “champion” in the region for rising prices over the past decade, based on purchasing power appeared first on Euronews Albania.
