Albania's inflation speeds up in November

Albania's inflation speeds up in November
By Valentina Dimitrievska in Skopje December 9, 2016

Albania's inflation accelerated to 1.9% y/y in November from 1.5% y/y a month earlier with the acceleration attributed mostly to higher food prices, according to statistics office data published on December 9.

According to the central bank governor Gent Sejko, the inflation is gradually moving to the set target. The rise in inflation in the first half of the year reflected the strengthening of inflationary pressures from the domestic demand and the reduction of disinflationary pressures from abroad. In Q3, the annual inflation averaged 1.9%. The European Commission foresees Albania to end 2016 with annual inflation to 1.5%.

In November 2015, the annual inflation rate was 2.1%.

In November 2016, the highest annual increase in prices was recorded in food and non-alcoholic beverages (3.2%), followed by the miscellaneous goods and services sector (+2.7%) and alcoholic beverages and tobacco (1.5%), the data indicated.

Only prices in the transport sector fell y/y in November, by -0.5%, but at a slower pace than previously.

In monthly terms, Albania turned to inflation of 0.1% in November from deflation of 0.2% m/m a month earlier.

Compared to a month earlier, the biggest increase of prices was recorded in the sector of housing, water, electricity, gas and other fuels, +1%, followed by furnishings and household equipment sector (+0.6%). Food prices fell 0.5% m/m in November.

 Consumer price index (CPI) inflation, %

Oct’16

Oct'16

Nov’16

Nov'16

 

m/m

y/y

m/m

y/y

TOTAL

-0.2

1.5

0.1

1.9

Food and non-alcoholic beverages

-0.7

3.1

-0.5

3.2

Alcoholic beverages and tobacco

0.2

1.6

-0.3

1.5

Clothing and footwear

0.4

1.0

0.3

0.8

Housing, water, electricity, gas and other fuels

0.1

0.5

1.0

1.5

Furnishings and household equipment

-0.6

0.3

0.6

0.7

Health

-0.2

-0.5

0.3

0.2

Transport

0.1

-1.5

-0.1

-0.5

Communication

0.0

0.5

0.2

0.7

Recreation and culture

-0.5

1.0

-0.3

0.8

Education

0.5

0.4

0.3

0.7

Hotels and restaurants

0.0

0.1

-0.1

0.1

Miscellaneous goods and services

-0.1

3.0

-0.1

2.7

Source: INSTAT

 

 

 

 

 

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