Kosovo's CPI inflation flat at 0.2% y/y in October 2013

By bne IntelliNews November 12, 2013

Kosovo's consumer prices increased 0.2% y/y in October after rising at the same annual rate in the month prior, statistics office data showed. On a monthly basis, the CPI turned positive and rose 0.8% in October, posting the fastest rise in a year. Prices declined 0.2% m/m in September.

Prices of food and non-alcoholic beverages decreased 1.4% y/y in October, contributing a negative 0.57pps to the CPI. Transport prices fell 2.7% y/y and housing and utilities charges were down 0.6% y/y, weighting down the overall inflation index by a combined 0.47pps.

However, the rising consumer costs of alcoholic beverages and tobacco, up 9.2% y/y in October, counterbalanced with a positive contribution to the CPI of 0.58pps. In addition, clothing and footwear were 3.5% more expensive than a year earlier, translating into a 0.18pps positive contribution to the aggregate price level in the country.

The EBRD sees Kosovo's annual average inflation slowing to 2.5% in 2013 from 3.3% in 2012. Core inflation is expected to remain at around 2% in 2013, the IMF said in an Article IV report in June. Headline inflation is projected at 2.4%.

Kosovo's consumer price inflation, y/y Weight in CPI basket Jul-13 Aug-13 Sep-13 Oct-13
CPI 100% 2.3% 1.2% 0.2% 0.2%
Food and non-alcoholic beverages 37.8% 3.8% 1.8% -0.7% -1.4%
Alcoholic beverages, tobacco 5.2% 5.7% 5.5% 5.6% 9.2%
Clothing and footwear 7.2% 2.7% 2.6% 3.2% 3.5%
Housing, water, electricity, gas and other fuels 7.1% -0.3% -1.2% -1.7% -0.6%
Furnishing, household equipment and routine maintenance of the house 10.0% 1.0% 1.3% 1.5% 1.0%
Health 3.3% 0.7% 0.7% 0.8% 0.6%
Transport 13.4% -1.2% -2.8% -3.3% -2.7%
Communication 3.4% -0.2% -0.9% -1.3% -1.2%
Recreation and culture 4.5% 0.3% 0.4% 0.2% 0.3%
Education 1.1% 0.0% 0.0% 0.0% 0.0%
Restaurants and hotels 4.1% 1.3% 0.9% 0.9% 0.9%
Miscellaneous goods and services 3.0% 10.7% 10.8% 10.2% 10.0%
Source: statistics office          
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