UPDATE 1- Albania's Nov CPI Falls 0.1% M/M, Up 2.6% Y/Y

On an annual basis, the country's consumer price inflation slowed down to 2.6% in November from 2.8% in October, INSTAT said in a monthly report, posted on its website.

The month-on-month CPI fall in November was largely due to a 3.8% decrease in fruit prices and a 0.9% decrease in prices of eggs and dairy products. Prices of vehicle spare parts went down by 4.9% on the month. Prices of vegetables and fish recorded the highest monthly increase, going up by 3.3% and 1.6%, respectively.

The annual rise in CPI was mainly due to a 16.8% increase in the prices of bread and cereal products, a 8.4% growth in oil prices and a 15.6% rise in water prices. Vegetable prices fell by 15% year-on-year.

CPI reached 101.26 points in November compared to its base of 100 points in December 2007. In October the index measured 101.31 points.

In November 2007, consumer prices went up by 0.2% on the month and were 3.5% higher on the year.

Albania's November 2008 consumer prices (pct change):

NOTE: Albania targets an average annual inflation rate of 3.0% this year, the same as last year. The average annual inflation rate for 2006 was 2.36%, compared to 2.4% in 2005.