Albania's consumer price inflation eases to 2.1% y/y in May 2013.

By bne IntelliNews June 7, 2013

Albania’s consumer prices increased by 2.1% y/y in May 2013, slowing down from a 2.3% annual rise in April, the statistics institute, INSTAT, said on its website. The growth, however, was above the 1.9% y/y rate recorded in May 2012. In monthly terms, consumer prices declined by 1% in May after edging down by 0.1% m/m in April.
Food prices increased by an annual 4.9%, continuing its upward trend from the past five months. The growth was mainly driven by a 28.6% rise in vegetable prices and an 5.7% y/y increase in prices of fruits. Prices of alcoholic beverages and tobacco went up 4.3% y/y in May after advancing 3.5% y/y in the previous month. Communications and education services costs grew by 1.3% and 1.8% y/y, respectively, advancing at the same pace as in the previous four months. Costs of transport reversed to a 0.5% y/y rise, which resulted from a 0.9% y/y growth in the costs of both equipment operations of personal transportation and transportation services. By contrast, lower prices of clothing and footwear (down 3.6% y/y) continued to exert downward pressure on the inflation. Regulated prices registered a 1% y/y drop in the month.

In our estimates, the average inflation rate was equal to 2.4% in January to May 2013, up from 1.3% in the same period of 2012.

The central bank decided on May 29 to keep the base interest rate at its historic low of 3.75% for a fourth consecutive month after cutting it by 25bps in January. The decision is in line with the objectives to meet the mid-term inflation target, while providing necessary stimulus to support lending growth and consumption.

Consumer prices, % y/y            
  May-12 Jan-13 Mar-13 Apr-13 May-13 Jan-May 2013
TOTAL  1.9 2.7 2.4 2.3 2.1 2.4
Food and Drink  1.9 4.4 5.6 5.7 4.9 5.1
Alcohol and Tobacco  1.2 3.8 3.6 3.5 4.3 3.8
Clothing and Footwear  -2.0 -3.1 -3.4 -3.4 -3.6 -3.4
Rent and Utilities    1.3 0.3 -0.5 -0.9 -1.0 -0.5
Furniture and Maintenance  1.6 1.3 1.3 1.2 0.7 1.2
Healthcare  3.5 1.4 1.1 0.1 0.1 0.8
Transportation  4.1 1.5 -0.7 -0.3 0.5 0.3
Communication  -0.1 1.3 1.3 1.3 1.3 1.3
Recreation and Culture  1.8 1.7 0.8 0.3 0.4 0.9
Education  1.5 1.8 1.8 1.8 1.8 1.8
Hotels and Restaurants  1.9 1.9 1.7 1.8 1.5 1.8
Others  5.9 7.5 -3.5 -3.6 -3.6 0.2
Source: INSTAT            

Related Articles

Kosovan PM sceptical about Western Balkans common market

There would be little advantage for Kosovo to join a common market with fellow Western Balkan countries, Prime Minister Isa Mustafa wrote on his Facebook page after EU Commissioner ... more

Effigy of Albanian PM burned at protest

Supporters of Albania’s main opposition Democratic Party (DP) set fire to an effigy of Prime Minister Edi Rama at a protest on March 18, a video of the protest posted on YouTube ... more

US puts Albania, Bosnia and Serbia on blacklist of major money laundering countries

The US department of state has included Albania, Bosnia & Herzegovina and Serbia in its latest list of major ... more

Register here to continue reading this article and 2 more for free or purchase 12 months full website access including the bne Magazine for just $119/year.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

Thank you. Please complete your registration by confirming your email address.
A confirmation email has been sent to the email address you provided.

To continue viewing our content you need to complete the registration process.

Please look for an email that was sent to with the subject line "Confirmation bne IntelliNews access". This email will have instructions on how to complete registration process. Please check in your "Junk" folder in case this communication was misdirected in your email system.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

If you have any questions please contact us at sales@intellinews.com

Subscribe to bne IntelliNews website and magazine

Subscribe to bne IntelliNews website and monthly magazine, the leading source of business, economic and financial news and commentary in emerging markets.

Your subscription includes:
  • Full access to the bne content daily news and features on the website
  • Newsletters direct to your mailbox
  • Print and digital subscription to the monthly bne magazine
  • Digital subscription to the weekly bne newspaper

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

bne IntelliNews
$119 per year

All prices are in US dollars net of applicable taxes.

If you have any questions please contact us at sales@intellinews.com

Register for free to read bne IntelliNews Magazine. You'll receive a free digital subscription.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

Thank you. Please complete your registration by confirming your email address.
A confirmation email has been sent to the email address you provided.

IntelliNews Pro offers daily news updates delivered to your inbox and in-depth data reports.
Get the emerging markets newswire that financial professionals trust.

"No day starts for my team without IntelliNews Pro" — UBS

Thank-you for requesting an IntelliNews Pro trial. Our team will be in contact with you shortly.

Dismiss