TIRANA, April 19 /ATA/ – Albania’s core inflation rate pursued a downward trend, falling to 2.7% year-on-year in March, below the Bank of Albania’s 3% target.
The inflation rate has dropped to its lowest level over two years, at 2.7%, down from 2.91% in February.
The core inflation is calculated by the Bank of Albania for a group of goods, which account for 69% of the share in the consumption basket of the Consumer Price Index. Core inflation excludes highly volatile products, mainly food and energy products. The purpose of calculating core inflation is to strip the overall increase in prices from shorter-term price fluctuations.
According to the National Institute of Statistics (INSTAT), Albania’s inflation rate hit the lowest point over almost three years to 2.3% in March.
However, the imported inflation was the main contributor to the decelerating inflation due to a fall in prices of goods in the international markets and the effects of the strengthening national currency in the domestic market.
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