Albania’s CPI inflation eases to 1% y/y in November 2013.

By bne IntelliNews December 9, 2013

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              
  Nov-12 Jul-13 Aug-13 Sep-13 Oct-13 Nov-13 Jan-Nov 2013
TOTAL  2.5 1.6 1.2 1.7 1.7 1.0 1.9
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
Healthcare  1.7 -1.0 -1.5 -1.4 -1.5 -1.6 -0.3
Transportation  3.4 0.5 0.3 -0.9 -1.0 -1.0 0.1
Communication  -0.3 1.2 1.3 1.3 -1.4 -1.4 0.8
Recreation and Culture  1.5 0.9 0.8 0.6 0.4 0.1 0.7
Education  1.9 2.2 2.2 2.0 0.1 0.1 1.6
Hotels and Restaurants  1.7 2.1 2.7 3.1 3.0 2.5 2.2
Others  10.6 -2.4 -2.0 -3.0 1.8 -1.2 -0.7
Source: INSTAT              

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