Albania's consumer price inflation eases to 2.4% y/y in Oct 2012.

By bne IntelliNews November 7, 2012
Albanias annual consumer price inflation decelerated to 2.4% in October 2012 from 2.8% in August 2012, the statistics institute, INSTAT, said on its website. The growth was also below the 3% y/y rate recorded in Oct 2011. The slight ease in October could be attributed to food prices that slowed their growth to 3.4% y/y from 4.2% y/y in September as vegetable prices grew by just 1% y/y in October, following a 12.7% y/y hike a month earlier. On the other hand, prices of fruits continued to grow the most - 17% y/y. Lower prices of clothing and footwear continued to exert downward pressure on inflation in the country. The cost of communication services also declined by 0.3% y/y in Oct. The cost of transport services rose by 4.1% y/y, driven up by a 4.5% y/y increase in prices of personal transportation equipment, a 4.1% y/y rise in transportation services and a 3.4% y/y growth in cost of vehicles. Prices of medical services advanced 1.6% y/y. In our calculations, the average inflation rate equalled 1.9% in January to October 2012, down from 3.7% a year earlier. The central bank decided at its latest meeting on October 31 to keep the base interest rate unchanged at the historic low of 4% for a third straight month after cutting it by 25bps in July. The bank has earlier lowered its annual inflation target, projecting a 0.7%-2.8% fluctuating band.
Consumer prices, % y/y
Oct-11 Jan-12 Mar-12 Jun-12 Aug-12 Oct-12 Jan-Oct 2012
TOTAL 3.0 1.6 1.0 2.2 2.8 2.4 1.9
Food and Drink 3.9 1.4 0.0 2.7 4.2 3.4 2.2
Alcohol and Tobacco 10.5 3.4 1.5 1.1 1.1 4.2 1.9
Clothing and Footwear -2.2 -2.2 -2.1 -2.3 -2.3 -2.0 -2.2
Rent and Utilities 2.4 1.2 0.8 1.3 1.4 0.0 1.0
Furniture and Maintenance 1.3 1.4 1.2 1.6 1.5 1.4 1.4
Healthcare 4.1 4.2 2.8 3.2 3.2 1.6 3.0
Transportation 6.6 5.4 5.3 3.2 4.4 4.1 4.6
Communication -0.3 -0.3 -0.1 -0.1 -0.1 -0.3 -0.1
Recreation and Culture 1.4 1.5 1.3 2.1 2.2 1.4 1.7
Education 1.5 1.5 1.5 1.4 1.4 1.9 1.5
Hotels and Restaurants 1.0 1.5 1.6 1.9 1.9 1.7 1.7
Others -0.7 -0.6 5.9 6.0 5.9 7.7 5.5
Source: INSTAT

Albania's consumer price inflation eases to 2.4% y/y in Oct 2012.

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