Albania’s Consumer Price Index (CPI) increased by 1.6% y/y in August, slowing down from a 2% expansion a month earlier, statistics office data indicated on September 8.
In the same period a year earlier, Albanian inflation was 2%. In 2017 inflation is expected to average around 2.3% and reach the target of 3.0% in 2018.
The main contributor to the annual rise in the CPI in August was the “food and non-alcoholic beverage” group, which rose 3.3% y/y and contributed 1.26 percentage points to overall growth.
A rise in “housing, water, electricity and other fuel” prices contributed 0.23pp.
In monthly terms, Albania’s CPI edged up 0.4%, reversing a four-month declining tendency which in July was -0.1%. In August, prices of food also increased the most in monthly terms, +1%.