Albania’s CPI inflation speeds up to 1.7% y/y in September 2013.

By bne IntelliNews October 8, 2013

Albania’s consumer prices increased by 1.7% y/y in September 2013, accelerating from a 1.2% y/y growth in August, the statistics institute, INSTAT, informed. However, the growth was still lower than the 2.6% y/y rate recorded in September 2012. In monthly terms, consumer prices picked up by 0.8% in September, following a marginal drop in the previous month.

The overall trend was again determined by food prices, which grew 3.9% y/y, speeding up from 2.8% y/y in August. The growth was mainly driven by a 18.8% y/y increase in fruit prices and a 15.7% rise in vegetable prices. Costs of the two categories speeded up from 14.8% y/y and 8.4% y/y, respectively, in the previous month.

Prices of alcoholic beverages and tobacco increased by 2.4% y/y in September advancing slower than August’s rise of 3.9% y/y. Communications costs grew by 1.3% y/y , rising at the same pace as in the previous month.

Education charges increased by 2 % on the year and regulated prices registered a 1.5% y/y rise.

On the other hand, lower prices of clothing and footwear (down 3.7% y/y) continued to exert downward pressure on the reading. Prices of transport dropped by 0.9% y/y reflecting a 0.5% y/y decline in the costs of transportation vehicles.

In our estimates, the average inflation rate was equal to 2.1% in January to September 2013, up from 1.9% in the same period of 2012.

Consumer prices, % y/y            
  Sep-12 Jun-13 Jul-13 Aug-13 Sep-13 Jan-Sep 2013
TOTAL  2.6 2.3 1.6 1.2 1.7 2.1
Food and Drink  4.2 5.4 4.0 2.8 3.9 4.6
Alcohol and Tobacco  2.6 4.1 4.1 3.9 2.4 3.7
Clothing and Footwear  -2.1 -4.5 -4.4 -3.8 -3.7 -3.7
Rent and Utilities    0.1 -0.5 -0.5 -0.5 1.5 -0.3
Furniture and Maintenance  1.3 0.5 0.4 0.5 0.2 0.8
Healthcare  1.7 -0.1 -1.0 -1.5 -1.4 0.0
Transportation  4.6 1.1 0.5 0.3 -0.9 0.3
Communication  0.0 1.3 1.2 1.3 1.3 1.3
Recreation and Culture  1.6 0.4 0.9 0.8 0.6 0.8
Education  1.5 2.2 2.2 2.2 2.0 2.0
Hotels and Restaurants  2.0 1.9 2.1 2.7 3.1 2.1
Others  6.0 -1.6 -2.4 -2.0 -3.0 -0.9
Source: INSTAT            
Read in IntelliNews Pro
Get IntelliNews Pro

Related Articles

EIF signs guarantee agreements with 11 banks in Western Balkans, unlocking €750mn for small businesses

The European Investment Fund (EIF), part of the EIB Group, said on April 15 that it has signed guarantee agreements with 11 banks and financial intermediaries in the Western Balkans. These ... more

EIB surpasses investment milestone in the Western Balkans by investing €1.2bn in 2023

EIB Global, the financial arm of the European Investment Bank (EIB) for activities beyond the EU, set a new record by investing €1.2bn in the Western Balkans in 2023, the EIB said on February 9. ... ... more

Albanian banks’ profits reach ALL28bn in 2023

Albanian banks reported profits of ALL28.5bn (€271.7bn) in 2023, according to data from the Albanian Association of Banks. All banks in the country reported a profit for the year.  The most ... more

Follow Us On

Most Read

  1. Ukraine's birth rate plummets to 300-year low as country’s population collapses
    8 days ago
  2. EU finally boosts defence investment into arms production as Ukraine runs out of ammo
    1 month ago
  3. Fresh evidence suggests that the April 2022 Istanbul peace deal to end the war in Ukraine was stillborn
    8 days ago
  4. Don't mention the "D" word - Ukraine
    5 days ago
  5. Europe unlikely to tackle Russian LNG imports anytime soon
    2 days ago
  1. Russia could pay off its entire external debt tomorrow, in cash
    26 days ago
  2. Speculation swirls of “Men in Blue” in Crocus City Hall terrorist attack linked to FSB
    30 days ago
  3. Albanians campaign on social media to keep bus bridge created in freak accident
    1 year ago
  4. BRICS announce a blockchain-based payment system to create a common currency
    28 days ago
  5. Saudi Arabia to scale back plans for Neom city
    15 days ago

Reports

Dismiss