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Albania's HICP edges up to 2.5% y/y in May

Jun 18, 2024, 5:20:40 PMArticle by Genta Hodo
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June 18 (SeeNews) - Albania's EU-harmonised index of consumer prices (HICP) rose 2.5% year-on-year in May, slightly accelerating from a 2.3% annual increase in April, the statistical office, INSTAT, said on Tuesday.

Albania's HICP edges up to 2.5% y/y in May
Photo of Toptani Shopping Center in Tirana on Wikipedia, author: Kj1595

The most significant contribution to the HICP rise in May was a 3.9% increase in the prices of culture and entertainment activities, as well as education prices, whereas prices of shoes and clothes rose 2.8%, INSTAT said in a monthly inflation report.

On a monthly comparison basis, Albania's HICP remained almost unchanged in May, following no change in April.

Albania's non-harmonised consumer price inflation slightly sped up to 2.2% year-on-year in May, from 2.1% in April, 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.

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