Albania's HICP eases to 3.8% y/y in Jan

The most significant contribution to annual inflation in January was a 6% increase in culture and entertainment, followed by a 5.8% rise in prices of food and non-alcoholic beverages, and an increase in education prices by 4.1%, INSTAT said in a statement.

On a monthly comparison basis, Albania's HICP saw a 0.4% downtick in January, after remaining unchanged in December.

Albania's non-harmonised consumer price inflation abated to 3.4% year-on-year in January, from 4% in December, 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.