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Inflation equals the EU average, prices in February increased by 2.8 percent

2024-03-19 13:46:39Biznes SHKRUAR NGA REDAKSIA VOX

Inflation equals the EU average, prices in February increased by 2.8 percent

In February 2024, the data published by INSTAT on inflation measured according to the European method confirm a slower increase in prices in our country, since in the previous months the inflation indicator was above the average of the European Union. Meanwhile, according to the figures, in February the Harmonized Index of Consumer Prices equaled the average of the European Union. We recall that in January this index was 3.8%, against 3.1% in the European Union.

The biggest increase in prices of 6% is observed in the group "Entertainment and culture", followed by the groups "Furniture, home appliances and maintenance" with 4.1%, "Educational service" with 4%, "Miscellaneous goods and services" with 3.8 %, "Alcoholic beverages and tobacco" with 3.7% and "Hotels, cafes and restaurants" with 3.4%. The groups "Clothing and shoes" with 2.9%, "Health" with 2.6%, "Food and non-alcoholic beverages" with 2.4%, "Rent, water, fuel and energy" with 0.8% and "Communication" also showed an increase. with 0.3%. On the other hand, the prices of the "Transporti" group decreased by 1.2%.

In the annual growth of this index, all groups have contributed positively, except for transport. The highest contribution was made by groups such as "Food and non-alcoholic beverages" with 0.85 pp, "Entertainment and culture" with 0.54 pp and "Hotels, restaurants and cafes" with 0.45 pp. Meanwhile, other groups have contributed less to the growth of this index, where this contribution varies from 0.01 pp for the "Communication" group and to 0.23 pp for the "Furniture, home appliances and home maintenance" group.

'Scan Intel' has also analyzed the data to see how Albania ranks among European countries. The published figures show an average annual price increase in the European Union during the month of February of 2.8%, placing Albania in line with the EU average. On the other hand, the figures position Turkey, Romania and Croatia as the countries with the highest price increase for the month of February. The increase in prices in these countries was almost double the EU average. Specifically, in Turkey inflation reached 67.1%, in Romania inflation reached 7.1% and in Croatia 4.8%. While at the regional level, inflation in Serbia was twice as high as in our country. Specifically, in the countries of the region, inflation reached 5.7% in Serbia, 4.9% in Montenegro and 3.9% in North Macedonia.


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