INSTAT: Consumer Price Index decreased in 2014 compared to 2013

INSTAT: Consumer Price Index decreased in 2014 compared to 2013

Albanian Institute of Statistics published the latest data about the Consumer Price Index for October 2014. Data show that the CPI has decreased by 1.4%, from 1.7% registered a year before. According to the report, “food and non-alcoholic beverages” group of goods had an impact of +0.63 points, “alcoholic beverages and tobacco” +0.27 points, “goods and services” 0.18 points, “rents and energy” 0.16 points and “health service” with -0.2 points.

As for the increase of prices during October, Albanian Institute of Statistics reports shows that “educational service” marked the highest increase of prices by 11.2%, comparing this to data of the last year. Other groups of products and serviced whose prices increased in October are “Alcoholic beverages and tobacco” by 7.4%, “goods and different services” by 3.8% , “communication services” by 2.7% and “hotels, bars and restaurants” by 1.9%.

Apart from the annual change in percentage, INSTAT reports an monthly change of Consumer Price Index by 0.1%. Comparing it to September, the increase of CPI was highly affected by the increase of “educational services” prices by 9.6% and “clothes and shoes” group, whose price increased by 2.4%.

The annual percentage change in a CPI is used as a measure of inflation.

News source: ATA
Photo credits: Flickr / Newton Free Library 

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