TIRANA, July 10 /ATA/ – Albania’s annual harmonized index of consumer prices (HICP) fell to 2.1% year-on-year in June 2024, significantly down from 4.5% during the same period of the previous year, the National Institute of Statistics (INSTAT) said.
On the monthly basis, the inflation rate slightly eased from 2.2% in the previous month of May.
The country’s inflation has fallen below the Bank of Albania’s 3% target.
According to INSTAT, the annual increase of the harmonized index of consumer prices in June was influenced mostly from prices of group “Food and non-alcoholic beverage” by +0.72 p.p., followed by “Housing, water, electricity and other fuel” group contributed by +0.42 p.p.. Also, prices of “Furniture household goods and maintenance” group influenced by +0.27 p.p., prices of “Alcoholic beverages and tobacco” group influenced by +0.16 p.p., prices of “Miscellaneous goods and services” group contributed by +0.12 p.p., prices of “Clothing and footwear” group contributed by +0.11 p.p., prices of “Hotels, coffee-house and restaurants” group contributed by +0.10 p.p., prices of “Health” group contributed by +0.07 p.p., prices of “Education service” group contributed by +0.06 p.p., prices of “Transport” group contributed by +0.05 p.p., prices of “Recreation and culture” group contributed by +0.04 p.p.
On an annual basis, prices accelerated for the furniture and housing utilities by 3.7%, followed by the alcoholic and tobacco group with 3.3%.
Milk, cheese and eggs group prices rose 3.4%, followed by fish and seafood prices with an increase of 3.3% in June 2024.
