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|
|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|
|Recreation and Culture||1.7||0.6||0.4||0.1||-0.2||-0.2|
|Hotels and Restaurants||1.9||3.1||3.0||2.5||1.9||1.8|
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