Albania’s consumer prices increased by 1.7% y/y in April 2014, slowing down from 2.2% y/y in the previous month, the statistics institute, INSTAT, informed. The annual growth was also below its year-ago level of 2.3%.
In monthly terms, consumer prices decreased by 0.6% in April, reversing a 0.5% y/y rise in March.
Food prices, which traditionally determine the overall trend, grew by 1.8% y/y, easing from a 2.8% hike in March. The growth was mainly supported by a 16.6% y/y increase in fruit prices and a 7.8% rise in vegetable prices. At the same time, prices of all other food items as well as of non-alcoholic beverages declined in April.
Prices of alcoholic beverages and tobacco increased by 7.2% y/y in April, faster than March’s rise of 6.8% y/y. Regulated prices registered a 2% y/y increase in the month.
Transport charges picked up by 0.5% y/y, driven by a 1.7% y/y growth in equipment operations of personal transportation.
By contrast, lower prices of clothing and footwear (down 2.8% y/y), communications (down 1.4% y/y) and medical care (down 3.9% y/y) continued to exert a downward pressure on the reading. Among others, costs of furniture household declined by 0.8% y/y.
In our estimates, the average inflation rate was equal to 1.9% in January to April 2014, down from 2.5% in the same period a year earlier.
|Consumer prices, % y/y|
|Food and Drink||5.7||3.5||2.7||2.9||2.8||1.8||2.5|
|Alcohol and Tobacco||3.5||4.2||7.3||6.3||6.8||7.2||6.9|
|Clothing and Footwear||-3.4||-3.4||-2.7||-3.4||-3.2||-2.8||-3.0|
|Rent and Utilities||-0.9||2.3||2.0||2.0||2.1||2.0||2.0|
|Furniture and Maintenance||1.2||-0.5||-0.7||-0.7||-1.0||-0.8||-0.8|
|Recreation and Culture||0.3||-0.2||-0.2||0.1||0.3||0.3||0.1|
|Hotels and Restaurants||1.8||1.9||1.8||1.9||2.7||2.6||2.2|
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