CPI rises 3 percent compared to last year

TIRANA, Dec.8 – The rise in food products prices has increased Albania’s monthly consumer price inflation to 0.9 percent in November from 0.1 percent in October. The data was released by the country’s National Statistics Office (INSTAT) on Friday. Albania’s consumer price index (CPI) reached 110.3 points in November, compared to the base 100 points in December 2001, INSTAT said in a statement. In October, it measured 109.4 points. The November consumer prices rose by 2.9 percent, faster than in October when they rose by 2.2 percent. The rise was though lower than the 3 percent annual growth in November 2005. The rise in consumer prices in November was caused mainly by higher prices of foods, drinks, clothes and shoes. Prices of furnishings and household equipments and of transport services fell by 0.2 percent and 0.3 percent, respectively. They were the only ones to record a negative change. Prices of tobacco, cigarettes and alcohol, rents and utilities prices, and the prices of communication, cultural and entertainment services were unchanged and all other prices were higher from the previous month. Compared to annual figures, the price rise in November was led by alcohols and cigarettes, a significant11.4 percent more expensive than a year ago. Rents and utilities prices also boosted the annual inflation, rising by seven percent. The prices of clothes and shoes, furnishings and household equipment and communications were lower in an annual framework. As part of its inflation controlling strategy, the central bank of Albania targets an average annual inflation rate of 3 percent for 2006. The average annual inflation rate in 2005 was 2.4 percent.