CBRT: Consumer prices rose by 1.64 percent annual inflation fell by 3.85 points in June

4 Temmuz 2024 11:55



In the CBRT’s June Price Developments assessment, the following points were underlined:

“Services prices were up by 4.03 percent in May, and annual services inflation fell by 1.06 points to 95.93 percent.

“Rents saw a significant monthly increase of 5.46 percent in May, bringing annual inflation in this subgroup to
125.14 percent. Prices in the other services subgroup rose by 3.60 percent month-on-month. 

“In May, annual core goods inflation decreased by 0.63 points to 56.51 percent. Annual inflation rose in other core goods but declined in remaining subgroups. 

“The monthly increase in prices of durable goods (excluding gold) decelerated to 1.89 percent, while the subgroup’s annual inflation dropped by 2.47 points to 57.43 percent. 

“The monthly increase in prices of other core goods was weaker at 1.90 percent compared to the previous month.

“Energy prices increased by 4.91 percent in May, and annual energy inflation soared by 46.85 points to 89.68 percent due to the base effect. 

“The monthly increase in energy prices was mainly driven by the 28.89 percent rise in natural gas prices after the termination of the facility allowing free use of the first 25 cubic meters. 

“On the other hand, following the developments in Turkish lira-denominated energy prices in May, fuel and bottled gas prices declined by 3.11 percent and 1.45 percent, respectively, limiting the rise in energy inflation.

“Prices of food and non-alcoholic beverages increased by 1.69 percent in May, driving annual inflation up by 1.64 points to 70.14 percent. 

“Annual inflation dropped by 1.32 points to 76.53 percent in unprocessed food, while it rose by 4.31 points to 64.50 percent in processed food. 

“Prices in alcoholic beverages and tobacco were up by 4.74 percent amid producer-driven developments, and annual inflation rose by 7.95 points to 86.48 percent.

Domestic producer prices increased by 1.96 percent in May, and annual inflation increased by 2.02 points to 57.68 percent.”

Albania News Agency

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