NBU cuts rates 100bp to 13.5% on falling inflation
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Albania posted annual inflation of 2% in March, after consumer prices rose by 2.1% y/y a month earlier, statistics office data showed on April 10.
In line with the central bank’s assessments, annual inflation is expected to hover around 2.2% in 2018 and converge to the central bank's target in 2019. Previously, the Albanian central bank expected to reach the inflation target of 3% in 2018.
In March 2017, Albanian inflation was 2.1%.
The main contributor to the annual rise in the CPI in March was the “food and non-alcoholic beverage” group, which rose 3.1% y/y and contributed 1.18 percentage points (pp) to overall growth.
A rise of 2.2% y/y in "housing, water, electricity and other fuel” prices contributed 0.45pp.
Alcoholic beverages and tobacco prices went up by 1.9% y/y.
The CPI increased y/y in all sectors, except in the health sector, where it was flat.
In monthly terms, Albania’s Consumer Price Index (CPI) edged up 0.3%, slowing down from a 0.8% m/m increase in February.
Prices of food increased the most in monthly terms, by 0.9%.
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