Albania posted an annual Consumer Price Index (CPI) inflation of 1.3% in August, slowing slightly from a 1.4% CPI inflation a month earlier, the state statistics office Instat said on September 8. In monthly terms, Albania turns to a 0.2% inflation after the index was down by 0.5% in July.
According to the International Monetary Fund (IMF), Albania’s consumer prices are seen increasing by 2.4% in 2020 and 2.7% in 2021, speeding up from the 1.4% inflation last year. Central bank governor Gent Sejko said recently that the current monetary conditions provided the necessary stimulus to encourage economic growth and for the return of inflation within target of 3% by 2022.
At annual level, prices increased the most in the group of food and non-alcoholic beverages, by 3.1%, the same growth as a month before, followed by furniture and household goods which increased 1.9% y/y vs 1.8% rise in July.
The group of food and non-alcoholic drinks contributed 1.14 pp to overall inflation.
Transport prices decreased the most at an annual level, by 5.8%, worsening from a 4.8% drop in July.
In monthly terms, furniture and household goods prices increased the most in August by 0.5%, after edging down 0.2% in the seventh month of the year.
Food and non-alcoholic beverage prices turned to a 0.4% m/m increase vs 1.3% drop a month before.