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|
|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%|
|Recreation and culture||4.5%||0.3%||0.4%||0.2%||0.3%|
|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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