Albania posts HICP inflation of 2.1% y/y in June

Albania posts HICP inflation of 2.1% y/y in June
Annual rates of CPI and HICP.
By bne IntelliNews July 18, 2018

Albania posted Harmonised Index of Consumer Prices (HICP) inflation of 2.1% in June, accelerating from a 1.8% increase a month earlier, according to data released by the statistics office Instat on July 18.

Albania’s HICP was 3.2% in 2017, which was the first year the statistics institute measured HICP inflation. Albania’s HICP was lower than the consumer price index (CPI), which stood at 2.4% in June.

Annual HICP inflation in June was driven mostly by food and non-alcoholic beverages, which saw prices increase by 3.4% y/y, and contributed with 1.3 percentage points (pp) to the overall growth. Prices of recreation and culture increased the most in the sixth month of the year, by 3.7% y/y, but contributed only 0.1 pp to the overall rise.

Prices in the alcoholic beverages and tobacco group went up by 1% y/y.

All groups registered an increase in prices on an annual basis in June, except the health sector, which saw a drop of prices of 0.1% y/y.

Albania posted HICP monthly deflation of 0.1% in June, after the index fell 1.4% in May. Prices in the health sector and in hotels and restaurants saw the biggest decline m/m, of 0.3%. Food prices edged down 0.2% m/m.