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EUROSTAT: Inflation closes the year at 4.5 percent, in December prices increased more than in the EU

2024-01-18 09:10:14Biznes SHKRUAR NGA REDAKSIA VOX

EUROSTAT: Inflation closes the year at 4.5 percent, in December prices increased

The Harmonized Index of Consumer Prices for the month of December 2023, which measures price growth according to the 'European Statistics Agency' method, is set at 4.5%, while according to the Instat method, it was set at 4% for the same month . We remind you that even in November this indicator was recorded at 4.5%. Meanwhile, the average annual growth of the Harmonized Index of Consumer Prices in 2023 is 5.3%.

Compared to other European countries, meanwhile, the annual rate of price increase in our country of 4.5% in December turns out to have exceeded the rate of inflation in the European Union. The average price increase in Europe for the month of December is recorded at 3.4%. Turkey and the Czech Republic continue to be reported for this month as the countries with the highest price increase in Europe, of 64.9% and 7.6% respectively, followed by Serbia with 7.5%. If we were to talk about the countries of the region, the data show that North Macedonia and Kosovo register a price increase rate of 3.8% and 2.3%. The figures show that Kosovo ranks below the average of the European Union. On the opposite side of the table are Denmark and Belgium with 0.4% and 0.5%.

The largest increase in prices of 7.6% is observed in the group "Food and non-alcoholic beverages", followed by the groups "Entertainment and culture" with 6.7%, "Alcoholic beverages and tobacco" with 4.3%, "Furniture, home appliances and maintenance" and "Educational service" with 4.2% each, "Miscellaneous goods and services" with 3.8%, "Hotels, cafes and restaurants" with 3.7%, "Clothing and shoes" with 2.9%, "Health" with 1.3%, "Rent, water, fuel and energy" with 1.1% and "Communication" with 0.3%. On the other hand, the prices of the "Transporti" group decreased by 2.2%.

As for the influence of the groups, the main contribution was made by the food group with 2.53 percentage points. Only the transport group had a negative impact with 0.19 percentage points.

In December, the monthly change measured by the Harmonized Index of Consumer Prices is 0.4%. This change was mainly influenced by the price increase of the group "Food and non-alcoholic beverages" by 1.2%, followed by the groups "Alcoholic beverages and tobacco" by 1.1%, "Miscellaneous goods and services" by 0.6%, "Rent, water, fuel and energy" with 0.5%, "Clothing and shoes" with 0.4%, "Furniture, home appliances and maintenance" and "Health" with 0.2% each, "Hotels, cafes and restaurants" with 0.1%. On the other hand, the prices of the group "Transport" decreased by 1.4%, followed by the group "Entertainment and culture" by 0.1%.


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