Albania’s consumer prices increased by 1% y/y in November 2013, slowing down from 1.7% y/y in October, the statistics institute, INSTAT, informed. The growth was also lower than the 2.5% y/y rate recorded in November 2012. In monthly terms, consumer prices dropped by 0.5% in November, after rising in the previous two months.
The overall trend was again determined by food prices, which grew 2.1% y/y, easing from a 3.5% hike in October. The growth was mainly supported by a 10.7% y/y increase in fruit prices and a 17.6% rise in vegetable prices.
Prices of alcoholic beverages and tobacco increased by 3.2% y/y in November, faster than October’s rise of 1.2% y/y. Regulated prices registered a 1.5% y/y increase.
By contrast, lower prices of clothing and footwear (down 3.7% y/y) continued to exert a downward pressure on the reading. Transport charges dropped by 1% y/y reflecting a similar drop in both the costs of transportation vehicles and the cost of equipment.
Communications costs fell by 1.4% y/y. Among others, education charges as well as furniture household and maintenance stagnated in November.
In our estimates, the average inflation rate was equal to 1.9% in January to November 2013, down from 2% in the same period of 2012.
|Consumer prices, % y/y|
|Food and Drink||3.4||4.0||2.8||3.9||3.5||2.1||4.3|
|Alcohol and Tobacco||4.0||4.1||3.9||2.4||1.2||3.2||3.4|
|Clothing and Footwear||-2.1||-4.4||-3.8||-3.7||-3.8||-3.7||-3.7|
|Rent and Utilities||0.4||-0.5||-0.5||1.5||1.6||1.5||0.1|
|Furniture and Maintenance||1.3||0.4||0.5||0.2||-0.1||-0.1||0.7|
|Recreation and Culture||1.5||0.9||0.8||0.6||0.4||0.1||0.7|
|Hotels and Restaurants||1.7||2.1||2.7||3.1||3.0||2.5||2.2|
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