Albania's consumer price inflation slows down to 2.6% in Sep 2012.

By bne IntelliNews October 9, 2012
Albanias annual consumer prices inflation decelerated to 2.6% y/y in September 2012, after speeding up in the previous six months to 2.8% y/y in August 2012, the statistics institute, INSTAT, said on its website. The growth was also below the 2.8% y/y rate recorded in September 2011. The slight ease in September could be attributed to lower growth in the group of regulated prices, within which costs of rents saw an annual decline of 1.5%. In addition lower prices of clothing and footwear continued to exert downwards pressure on inflation in the country. On the other hand, food prices registered a 4.2% y/y increase, same as in the previous month. Costs of most of the items included in the group increased on annual basis with the exception of meat, fish and sweets. Prices of fruit grew the most - 17% y/y, and the price of vegetables increased by 12.7% y/y in September 2012. The cost of transport services rose 4.6% y/y, driven up by a 5.6% y/y increase in prices of personal transportation equipment, a 4.2% y/y rise in transportation services and a 2.7% y/y growth in cost of vehicles. Prices of medical services advanced 1.7% y/y. Prices of communication services remained flat y/y in September. In our calculations, the average inflation rate equalled 1.9% in January to September 2012, down from 3.8% a year earlier. The central bank decided at its latest meeting on September 26 to keep the base interest rate unchanged at historic low of 4% for a second 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
Sep-11 Jan-12 Mar-12 Jun-12 Aug-12 Sep-12 Jan-Sep 2012
TOTAL 2.8 1.6 1.0 2.2 2.8 2.6 1.9
Food and Drink 3.3 1.4 0.0 2.7 4.2 4.2 2.0
Alcohol and Tobacco 10.6 3.4 1.5 1.1 1.1 2.6 1.7
Clothing and Footwear -2.3 -2.2 -2.1 -2.3 -2.3 -2.1 -2.2
Rent and Utilities 2.4 1.2 0.8 1.3 1.4 0.1 1.1
Furniture and Maintenance 1.2 1.4 1.2 1.6 1.5 1.3 1.4
Healthcare 3.9 4.2 2.8 3.2 3.2 1.7 3.2
Transportation 6.3 5.4 5.3 3.2 4.4 4.6 4.6
Communication -0.3 -0.3 -0.1 -0.1 -0.1 0.0 -0.1
Recreation and Culture 1.4 1.5 1.3 2.1 2.2 1.6 1.7
Education 0.1 1.5 1.5 1.4 1.4 1.5 1.4
Hotels and Restaurants 0.8 1.5 1.6 1.9 1.9 2.0 1.7
Others 1.1 -0.6 5.9 6.0 5.9 6.0 5.2
Source: INSTAT

Albania's consumer price inflation slows down to 2.6% in Sep 2012.

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