Albania above the EU average, inflation reaches 3.2%/ Entertainment becomes more expensive by over 10%, food takes the main hit
The Harmonized Index of Consumer Prices, which allows for the measurement of inflation according to the European method, was recorded at 3.2% in Albania during June. Inflation measured by INSTAT was also fixed at the same level, indicating that the annual price increase remains above the Bank of Albania's 3% target.
The data shows that Albania continues to have an inflation rate higher than the European Union average, which in June was 2.9%. Our country ranks on the same level as Austria, Iceland and Cyprus, while the strongest price increase was recorded in Romania with 9.2%, followed by Kosovo with 6% and Georgia with 5.6%.
Compared to the countries of the region, Albania is positioned better than Montenegro, North Macedonia, Slovenia and Croatia, where inflation fluctuates from 3.5% to 4.2%. However, the increase in prices in our country remains higher than in Serbia, where the rate was 3%, as well as in some of the main European economies, including Italy, Germany and France.
The main pressure on inflation was again exerted by food and non-alcoholic beverages, which contributed 1.02 percentage points to the total price increase. However, the largest annual price increase was recorded by the group "Entertainment, sports and culture", with 10.2%, followed by alcoholic beverages and tobacco with 4.9%, as well as restaurants and accommodation services with 3.9%.
Compared to May, consumer prices decreased by 0.1%. The monthly decline was mainly driven by transportation, where prices fell by 2.1%.
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