Consumer Index Price Hits Decade-High in February

Consumer Index Price Hits Decade-High in February

TIRANA, March 9

The February inflation report was the hottest ever for the last decade. According to the data published by the Albanian Institute of Statistics (INSTAT), February consumer prices reached the highest level in over ten years as costs increased for a wide range of products.

annual consumer price index INSTAT
Annual Consumer Price Index INSTAT

Based on INSTAT stats, the Consumer Price Index (CPI) climbed to 3.9 percent in February 2022. This is the highest level since spring 2011. Meanwhile, it rose 1.3 percent compared to January 2022. The products that drove the price increase in February were Food and nonalcoholic beverages. The cost for products in this category surged by 2.45 percent. Moreover, transport costs were up 0.55 percent. The cost for rent, water, fuel, and energy increased by 0.34 percent.
In the meantime, the year-over-year comparison shows that transport costs were up 10.4 percent. Meanwhile, the costs for food and non-alcoholic beverages surged by 6.9 percent. In this product category, the price for vegetables and potatoes increased by 16.4 percent flowed by edible oil and fat by 10.1 percent, fruit by 7.0 percent, and bread and wheat by 6.8 percent.

Source: INSTAT
Photo by Andres Carreno on Unsplash

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