Inflation strains Albanian households, says opposition MP

Tirana, November 9, 2024 -  Democratic Party MP Jorida Tabaku has raised alarm over the mounting financial pressure faced by Albanian households, as soaring inflation pushes up living costs while wages and pensions remain inadequate.

Tabaku described the current economic situation as a "socialist inflation," pointing to a 55% increase in the prices of essential food items and products. She stressed that rising prices have severely reduced the population's purchasing power, as wages have failed to keep up.

"Every day, you’re paying more for dairy, meat, vegetables, and all the basic products," Tabaku said, adding that 40% of household income is now spent solely on food. The remaining budget is stretched thin, covering increased utility bills and rent.

She also pointed to the widening gap between basic living costs and pensions, which, she argued, fail to meet even a fraction of pensioners' daily needs.

Tabaku called for a shift in the economic model, urging more investment in vital sectors such as education and healthcare while promoting industries facing challenges, such as agriculture. She also criticized the construction sector, claiming it is fueled by "dirty money" rather than sustainable growth.

In her video message posted on social media, the MP emphasized the need for Albanians to reject the current system, which, she believes, serves only a small elite rather than the broader population.