Albania’s consumer prices rise 1.7% y/y in October 2013.

By bne IntelliNews November 7, 2013

Albania’s consumer prices increased by 1.7% y/y in October 2013, growing at the same pace as in September, the statistics institute, INSTAT, informed. However, the growth was still lower than the 2.4% y/y rate recorded in October 2012. In monthly terms, consumer prices edged up by 0.1% in October, following a 0.8% m/m hike in the previous month.

The overall trend was again determined by food prices, which grew 3.5% y/y slightly easing from 3.9% in September. The growth was mainly driven by a 13.3% y/y increase in fruit prices and a 25.4% rise in vegetable prices. Prices of alcoholic beverages and tobacco increased by 1.2% y/y in October advancing slower than August’s rise of 2.4% y/y. Regulated prices registered a 1.6% y/y increase.

By contrast, lower prices of clothing and footwear (down 3.8% y/y) continued to exert a downward pressure on the reading. Transport charges dropped by 1% y/y reflecting a 1% y/y decline in both the costs of transportation vehicles and cost of equipment.

Communications costs fell by 1.4% y/y, snapping a 10-month rising streak. Among others, education charges as well as the furniture household and maintenance virtually stagnated in October.

In our estimates, the average inflation rate was equal to 2% in January to October 2013, up from 1.9% in the same period of 2012.

Consumer prices, % y/y              
  Oct-12 Jun-13 Jul-13 Aug-13 Sep-13 Oct-13 Jan-Oct 2013
TOTAL  2.4 2.3 1.6 1.2 1.7 1.7 2.0
Food and Drink  3.4 5.4 4.0 2.8 3.9 3.5 4.5
Alcohol and Tobacco  4.2 4.1 4.1 3.9 2.4 1.2 3.5
Clothing and Footwear  -2.0 -4.5 -4.4 -3.8 -3.7 -3.8 -3.7
Rent and Utilities    0.0 -0.5 -0.5 -0.5 1.5 1.6 -0.1
Furniture and Maintenance  1.4 0.5 0.4 0.5 0.2 -0.1 0.7
Healthcare  1.6 -0.1 -1.0 -1.5 -1.4 -1.5 -0.2
Transportation  4.1 1.1 0.5 0.3 -0.9 -1.0 0.2
Communication  -0.3 1.3 1.2 1.3 1.3 -1.4 1.0
Recreation and Culture  1.4 0.4 0.9 0.8 0.6 0.4 0.8
Education  1.9 2.2 2.2 2.2 2.0 0.1 1.8
Hotels and Restaurants  1.7 1.9 2.1 2.7 3.1 3.0 2.2
Others  7.7 -1.6 -2.4 -2.0 -3.0 1.8 -0.6
Source: INSTAT              
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