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            

Related Articles

Albanian opposition party splits after disastrous election performance

Members of Albania’s main opposition Democratic Party (DP) that have been excluded from the party by its leader Lulzim Basha plan to establish a new political movement, local media reported on ... more

Albania's new government to make drastic job cuts in public administration

The new Albanian cabinet plans to drastically slash the number of employees in the public administration to make it more efficient. Prime Minister Edi Rama recently ... more

Dozens of ethnic Greeks arrested in Albania's Himara

Tensions in Himara, a coastal city in southern Albania, have risen after dozens of members of the Greek minority in the area were detained. The arrests were reportedly made after residents were ... more

Dismiss