Albania’s CPI inflation slows to 1.7% y/y in January 2014.

By bne IntelliNews February 11, 2014

Albania’s consumer prices increased by 1.7% y/y in January 2014, slowing down from 1.9% y/y in December 2013, the statistics institute, INSTAT, informed. The annual growth was lower than the 2.7% y/y rate recorded in January 2013. In monthly terms, consumer prices picked up by 0.8% in January, easing from a 1.7% m/m rise in the previous month.

The overall trend was again determined by food prices, which grew 2.7% y/y, decelerating from a 3.5% hike in December 2013. The growth was mainly supported by a 17.5% y/y increase in fruit prices and a 12.7% rise in vegetable prices. At the same time, prices of all other food items declined in January.

Prices of alcoholic beverages and tobacco increased by 7.3% y/y in January, faster than December's rise of 4.2% y/y. Regulated prices registered a 2% y/y increase.

Transport charges edged up by 0.6% y/y, ending a four-month declining streak.

By contrast, lower prices of clothing and footwear (down 2.7% y/y) continued to exert a downward pressure on the reading. Communications costs fell by 2.8% y/y. Among others, costs of furniture household declined by 0.7% y/y.

The average inflation rate was equal to 1.9% in 2013, slightly down from 2% in 2012.

Consumer prices, % y/y            
  Jan-13 Sep-13 Oct-13 Nov-13 Dec-13 Jan-14
TOTAL  2.7 1.7 1.7 1.0 1.9 1.7
Food and Drink  4.4 3.9 3.5 2.1 3.5 2.7
Alcohol and Tobacco  3.8 2.4 1.2 3.2 4.2 7.3
Clothing and Footwear  -3.1 -3.7 -3.8 -3.7 -3.4 -2.7
Rent and Utilities    0.3 1.5 1.6 1.5 2.3 2.0
Furniture and Maintenance  1.3 0.2 -0.1 -0.1 -0.5 -0.7
Healthcare  1.4 -1.4 -1.5 -1.6 -1.5 -1.3
Transportation  1.5 -0.9 -1.0 -1.0 -1.2 0.6
Communication  1.3 1.3 -1.4 -1.4 -2.9 -2.8
Recreation and Culture  1.7 0.6 0.4 0.1 -0.2 -0.2
Education  1.8 2.0 0.1 0.1 0.1 0.3
Hotels and Restaurants  1.9 3.1 3.0 2.5 1.9 1.8
Others  7.5 -3.0 1.8 -1.2 3.3 1.6
Source: INSTAT            
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