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Inflation by Eurostat, same as the national measurement indicator

Inflation by Eurostat, same as the national measurement indicator

2018 recorded a growth of the flow and demand for tourism in Albania, rich in growing interest for domestic agricultural products and their wide export, which was accompanied by moderate inflation growth within the forecasts of the Bank of Albania.

The Institute of Statistics announced today that the annual change in prices according to the EUROSTAT methodology or the Harmonized Index of Consumer Prices reached 1.8% in December 2018, the same as the national measurement indicator.

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According to INSTAT, the biggest rise in prices of 3.1% is observed in the groups “Foods and non-alcoholic beverages” and “Hotels, cafes and restaurants”, followed by “Fun and Culture” groups, with 2.4%, “Rent , water, fuel and energy “by 1.6%,” Alcoholic beverages and tobacco “by 1.5%,” Transport “by 0.9%, etc.

On the other hand, the prices of “Clothing and footwear” prices decreased by 1.1%, followed by “Health” by 0.4% and “Furniture, household and maintenance” by 0.3%.

Two years ago to help policy design and to achieve a better comparability with other countries, in co-ordination with Eurostat, INSTAT took steps to establish a common methodological basis of member states for building and using of the CPI, according to the European Council (EC) Regulation, no. 2494/95 of 23 October 1995.

Eurozone inflation is measured on the basis of the CPI indicator. The term “harmonized” underlines the fact that all EU countries apply the same methodology in measuring the respective indicator.

News Source: ATA

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