CPI falls 0.8% in May

TIRANA, June 8–Albania’s May consumer price index (CPI) fell 0.8% month-on-month, after decreasing by a monthly 0.1% in April, INSTAT, said on Monday.
The monthly CPI decrease in May was mostly due to an 11.2% fall in vegetable prices, and a 2.0% decrease in bread and wheat products prices, data from National Statistic Office showed.
On an annual basis, the country’s consumer price inflation increased to 2.1% in May from 1.9% in April.
The annual rise in CPI was mainly due to a 12% increase in the prices of vegetables and a 10.1% rise in fish prices. Prices of books went up by 31%, while the price of transport services rose by 12.1%. Food and non-alcoholic beverage prices increased 5% annually in May, larger than the 4.2% growth in April. At the same time, clothing and footwear prices dropped 2.6%, while transport charges were down 2.1%.
The country’s CPI reached 103.1 points in May compared to its base of 100 points in December 2007. In April the index measured 103.9 points.
In May 2008 consumer prices fell by 0.1% on the month and were 4.2% higher on the year.
Bank of Albania targets an average annual inflation rate of 3.0% in 2009, the same as in 2008 and 2007. In 2008 Albania’s average inflation was 3.4%, up from 2.9% in 2007.