The annual inflation rate in Albania fell to 1.1 percent in December of 2020 from 1.6 percent in the previous month. It was the lowest inflation rate since December of 2019, as cost slowed for food & non-alcoholic beverages (1.1 percent vs 1.6 percent in November); housing & utilities (1.2 percent vs 1.3 percent); miscellaneous goods & services (0.7 percent vs 0.9 percent) and recreation & culture (0.5 percent vs 0.9 percent). Also, prices continued to fall for transport (-4.9 percent vs -4.6 percent); clothing & footwear (-0.6 percent, the same as in the previous month) and health (-0.2 percent vs -0.3 percent). On the other hand, cost rose further for alcoholic beverages & tobacco (0.9 percent vs 0.6 percent) while inflation was steady for furniture & household goods (at 1.2 percent); communication (at 0.5 percent) and hotels & restaurants (0.7 percent). On a monthly basis, consumer prices went up 0.3 percent, after a 0.5 percent drop in November. source: Instituti i Statistikave (INSTAT)
Inflation Rate in Albania averaged 2.84 percent from 1995 until 2020, reaching an all time high of 42.08 percent in December of 1997 and a record low of -2.11 percent in March of 2000. This page provides - Albania Inflation Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Albania Inflation Rate - data, historical chart, forecasts and calendar of releases - was last updated on January of 2021.
Inflation Rate in Albania is expected to be 1.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Inflation Rate in Albania to stand at 1.70 in 12 months time. In the long-term, the Albania Inflation Rate is projected to trend around 2.50 percent in 2022, according to our econometric models.