TIRANA, May 9 /ATA/ – Albania’s inflation rate fell to 2.1% year-on-year in April 2024, significantly down from 4.6% during the same period of the previous year, maintaining a downward trend in prices in the last four months, the National Institute of Statistics (INSTAT) said on Wednesday.
According to INSTAT’s consumer price index (CPI), the monthly CPI change in April was 0.2%.
According to INSTAT, Albania hit the lowest inflation rate since October 2021, prior to a price spike in the wake of the pandemic and the Russian invasion of Ukraine, when the inflation rate surged to over 8% in 2022.
The country’s inflation has fallen below the Bank of Albania’s 3% target.
The annual price increase has been mainly driven by the entertainment and culture group with its CPI rising 4.4% year-on-year in April, followed by the furniture, household goods, and house maintenance group with prices increase by 3.4 %, clothes and footwear with their CPI increasing by 3.4 %, alcoholic beverages and tobacco group rising 3.3 %, hotel, cafés, and restaurants group with 3.2 %, rent, water, fuel and energy by 2.3 %, education service by 2.2 %, health by 1.7% etc.
Meanwhile, prices of the vegetables subgroup, including potatoes, rose 5.4%, followed by fish and seafood prices with an increase of 5.2%, milk, cheese and eggs group prices increased 3.6% in April 2024.
/u.sh/
