Albania's consumer prices rise 2.4% y/y in Dec 2012.

By bne IntelliNews January 8, 2013
Albanias consumer prices grew by 2.4% y/y in December 2012, easing from a 2.5% annual rise in the previous month, the statistics institute, INSTAT, said on its website. The growth, however, was over the 1.7% y/y rate recorded in Dec 2011. In monthly terms, consumer prices increased by 0.9% in December, speeding up from 0.2% m/m growth in November. Food prices increased by an annual 3.6%, mainly driven by a 11.2% growth in fruits as well as a 9% y/y increase in costs of vegetables. Prices of alcoholic beverages and tobacco increased by 3.8% y/y in December, slower than November's rise of 4% y/y. The cost of transport services rose by 3.4% y/y, driven up by a 3.8% y/y increase in prices of personal transportation equipment, a 3.1% y/y rise in transportation services and a 3.8% y/y growth in vehicle prices. Communication services costs increased by 1.3% y/y in December, reversing from annual declines in the previous two months. The costs of goods and different services advanced by 5.7% y/y in December, decelerating from a 10.6% y/y rise a month ago. Lower prices of clothing and footwear continued to exert downward pressure on inflation in the country. In our estimates, the average inflation rate equals to 2% in 2012, down from 3.5% in 2011. The central bank decided at its latest meeting on December 20 to keep the base interest rate unchanged at the historic low of 4% for the fifth 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
Dec-11 Jan-12 Mar-12 Aug-12 Nov-12 Dec-12 Jan-Dec 2012
TOTAL 1.7 1.6 1.0 2.8 2.5 2.4 2.0
Food and Drink 1.2 1.4 0.0 4.2 3.4 3.6 2.4
Alcohol and Tobacco 9.5 3.4 1.5 1.1 4.0 3.8 2.3
Clothing and Footwear -2.4 -2.2 -2.1 -2.3 -2.1 -2.3 -2.2
Rent and Utilities 1.3 1.2 0.8 1.4 0.4 0.3 0.9
Furniture and Maintenance 1.3 1.4 1.2 1.5 1.3 1.5 1.4
Healthcare 4.1 4.2 2.8 3.2 1.7 1.5 2.8
Transportation 5.8 5.4 5.3 4.4 3.4 3.4 4.4
Communication -0.4 -0.3 -0.1 -0.1 -0.3 1.3 0.0
Recreation and Culture 1.2 1.5 1.3 2.2 1.5 1.9 1.7
Education 1.5 1.5 1.5 1.4 1.9 1.9 1.6
Hotels and Restaurants 1.5 1.5 1.6 1.9 1.7 2.0 1.7
Others -0.4 -0.6 5.9 5.9 10.6 5.7 5.9
Source: INSTAT

Albania's consumer prices rise 2.4% y/y in Dec 2012.

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