Albania’s consumer prices rose 2.3% y/y in April 2013, slowing down from a 2.4% annual rise in March, the statistics institute, INSTAT, said on its website. The growth, however, was above the 1.6% y/y rate recorded in April 2012.
In monthly terms, consumer prices edged down 0.1% in April after rising 0.3% in March.
Food prices increased by an annual 5.7%, accelerating their growth for a fifth consecutive month. The growth was mainly driven by a 28.3% rise in vegetable prices and an 8.1% y/y increase in prices of fruit. Prices of alcoholic beverages and tobacco went up 3.5% y/y in April after advancing 3.6% 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 three months. By contrast, lower prices of clothing and footwear (down 3.4% y/y) continued to exert downward pressure on the inflation.
Regulated prices registered a 0.9% y/y drop in the month. Moreover, costs of transport reversed to a 0.3% y/y decline, which resulted from a 1.2% y/y drop in the prices of equipment operations of personal transportation. In our estimates, the average inflation rate was equal to 2.5% in January to April 2013, up from 1.2% in the same period of 2012.
The central bank decided on April 30 to keep the base interest rate at its historic low of 3.75% for a third 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|
|Food and Drink||1.1||3.6||4.4||5.6||5.7||5.2|
|Alcohol and Tobacco||1.5||3.8||3.8||3.6||3.5||3.7|
|Clothing and Footwear||-1.9||-2.3||-3.1||-3.4||-3.4||-3.3|
|Rent and Utilities||1.3||0.3||0.3||-0.5||-0.9||-0.3|
|Furniture and Maintenance||1.3||1.5||1.3||1.3||1.2||1.3|
|Recreation and Culture||1.9||1.9||1.7||0.8||0.3||1.1|
|Hotels and Restaurants||1.5||2.0||1.9||1.7||1.8||1.8|
Macedonia was rated only “partly free” in the latest report from international watchdog Freedom House, the same almost all of the six Western Balkan countries, despite efforts by the ... more
The Albania’s central bank has announced it will issue a new ALL10,000 (€74.9) banknote. The new ALL10,000 banknote will have the highest value issued so far, as the current biggest value ... more
Albanian Prime Minister Edi Rama presented a new online platform for co-governance with citizens entitled “Albania We Want” on October 28. Ensuring functional and responsible ... more