TIRANA, June 8 – Consumer prices in Albania continued to rise in May, pushing annual inflation to 3%, up from 2.2% a year earlier, according to data published by INSTAT.
Meanwhile, the statistical institute said the increase over the past two months mainly reflects higher fuel prices. It linked the rise to developments in international energy markets and tensions in the Middle East. These factors increased energy costs and created a chain effect on other goods and services.
In addition, tourism growth contributed to higher demand. As a result, accommodation and housing services recorded higher prices in several areas of the country.
Compared with a year earlier, prices rose most in transport, energy, rent and financial services. Transport recorded the highest increase at 7.8%. Insurance and financial services rose by 4.9%. Rent, energy, water and fuel increased by 4.2%.
At the same time, prices also increased in restaurants, hotels, personal care services, alcoholic beverages and tobacco products.
Food and non-alcoholic beverages, which account for the largest share of household spending, rose by 2.2% year-on-year.
On a monthly basis, prices fell slightly by 0.04% compared with April. The decline mainly reflected lower prices for clothing and footwear. Food and transport also recorded a slight decrease.
/a.p./
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