March 19 (SeeNews) - Albania's EU-harmonised index of consumer prices (HICP) rose 2.8% year-on-year in February, decelerating from a 3.8% annual increase in January, the statistical office, INSTAT, said.
The most significant contribution to annual inflation in February was a 6% increase in culture and entertainment prices, followed by a 4.1% rise in prices of furniture, home appliances and maintenance, and a 4% increase in education prices, INSTAT said in a statement on Monday.
On a monthly comparison basis, Albania's HICP saw a 0.3% uptick in February, after shrinking by 0.4% in January.
Albania's non-harmonised consumer price inflation slowed to 2.6% year-on-year in February, from 3.4% in January, INSTAT said earlier this month. The country's HICP averaged 5.3% in 2023.
INSTAT began releasing inflation measurements using HICP in February 2017. HICP assesses consumer price inflation in the eurozone and is formulated following a standardised methodology adopted across European Union countries, allowing for meaningful comparisons of data between different nations.