Albania reported annual Harmonised Index of Consumer Prices (HICP) inflation of 1.6% in January, the state statistics office Instat said. The monthly HICP inflation rate stood at 2.5% in January.
The biggest increase in prices in annual terms was in the transport sector, where prices rose by 3.3% year-on-year. Transport was followed by food and non-alcoholic beverages (up by 2.9%), recreation and culture (1.8%), alcoholic beverages and tobacco (1.3 %), and housing, water, electricity, gas and other fuels (0.9%).
Modest y/y increases were also seen for furniture household goods and maintenance (0.5%), hotels, coffee-houses and restaurants (0.4%), and health and education (0.2% each).
On the other hand, prices of clothing and footwear and communications decreased by 0.4% and 0.3%, respectively during the month.
The rise in prices in monthly terms was primarily driven by the 6.1% increase in prices of food and non-alcoholic beverages, followed by transport prices, up 2.2%. More modest increases were registered in a raft of other sectors.
However, there was a price decrease in monthly terms for recreation and culture, communications and clothing and footwear.