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|
|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|
|Recreation and Culture||1.6||0.4||0.9||0.8||0.6||0.8|
|Hotels and Restaurants||2.0||1.9||2.1||2.7||3.1||2.1|
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