Albania, among 6 countries that have had the lowest price growth in Europe

According to INSTAT, the annual change measured by the harmonised Consumer Prices Index in October 2022 is 8.0, % of the nearly 12% average of the 27-nation European Union. Albania ranks after Switzerland, Iceland, France, Spain and Malta, among the countries that have experienced the lowest price increase in Europe.

This relatively low inflation rate is explained by energy, which in Europe has become very expensive for consumers, giving the main impact on the inflation index, while in Albania, the price for household consumers has remained unchanged so far (the Monitor mark). For example, in the eurozone in October, inflation hit a new record of 10.6%, with energy priced at 41.5%, affecting 4.4 percentage points of inflation growth.

While in Albania, in harmonised October (+.8%) inflation, the main impact is alcohol food and drink, according to INSTAT, which has affected 4.84 percentage points. As a result, households' budgets have become more charged with minimum livelihoods, while food accounts for about 42% of total spending weight, versus 12%, which is this indicator in Europe.

Index

According to INSTAT, in October, the largest price increase of 13,7 %s is noted in the “Usqim Group <alcolice@x1>, followed by groups “Transport” with 12.9 %, “mobilim, home and maintenance equipment” with 6.5 %, “alcoholicization and tobacco<7> with 5,1, <x> >Mallra and various services” with 3.8 %, “Hottle, cafes and restaurants” with 3,1 %, “Education service” with 2.4 % each, “Entertainment and Culture” with 2.0 % and “Communification” with 0.06 %.

In October 2022, the monthly change measured by the Consumption Awards Index is 0.3 %. This change has been largely influenced by the group's growth in prices “Transport” with 0.8 %, followed by “mobilim groups, home equipment and maintenance” by 0.6 %, “Usctures and non-alcoholic drinks” with 0.5, %, “Health” and “Mallra and various services” with 0.2 %s each, “Hottle, cafes and restaurants” with 0.1%, %, on the other hand, group prices “Accommodation and culture” sat down with 1,8 %, followed by <x18 groups > Alcohol and tobacco” with 0.4 % and “Education service” with 0.2 %

The harmonised Consumption Prices Index (IHÇK) measures changing the level of retail prices of goods and services from the standpoint of the spending structure which consumers (state and foreign) are aiming for final consumption on Albania's territory.

IHCK is used for monitoring the movement of retail prices in European countries, comparing the percentage of inflation among European countries and as official European Central Bank inflation, ensuring price stability in the Economic Union and Monetary Union. /Monitor. al