bne IntelliNews – Rising food prices cause inflation to accelerate in Albania in September
Albania’s annual inflation accelerated for the third consecutive month in September, to 2.5%, the statistics office Instat reported on October 8. On a month-to-month basis, consumer prices rose 0.5%, also accelerating from previous months.
Rising food and fuel prices, part of a global phenomenon as economies recover from the corona crisis, have sparked protests in recent days, with protesters calling on the government to intervene.
Higher prices for food and non-alcoholic beverages were the main driver of year-on-year inflation in September. Food and non-alcoholic drink prices rose 4.6% yoy in September, pushing annual inflation up +1.60 pp.
This included a sharp 13.6% year-over-year increase in the prices of vegetables such as potatoes, followed by oils and fats (up 6.6%), bread and grains (4.7%). , fruits (4.1%), sugar, jam, honey, syrup, chocolates and confectionery (3.3%) and dairy products (2.2%).
Transport prices also increased by 4.5%, which contributed +0.24 pp to the headline inflation rate.
Other sectors that saw strong year-on-year price increases in September were communications (up 3.0% year-on-year), leisure and culture (2.1%), clothing and footwear (1.9%), hotels, cafes and restaurants (1.7%). and alcoholic beverages and tobacco (1.5%).
The only area where prices fell year-on-year was miscellaneous goods and services, down 0.1%.
In monthly terms, the largest increase was also recorded for food and non-alcoholic beverages, as well as clothing and footwear (both up 1.8%).