Annual inflation rate in Albania decreased to 1.4 percent in August of 2019 from 1.5 percent in the previous month. Cost slowed for food & non-alcoholic beverages (2.4 percent vs 2.8 percent in July), namely vegetables (2.7 percent vs 6.7 percent) and milk, cheese & eggs (3 percent vs 3.3 percent); and communication (0.1 percent vs 0.2 percent). Also, inflation was steady for housing & utilities (at 0.8 percent); miscellaneous goods & services (at 0.1 percent); clothing & footwear (at 0.2 percent) and restaurant & hotels (at 1.1 percent). On the other hand, cost rose faster for furniture & household goods (1.5 percent vs 1.3 percent); alcoholic beverages & tobacco (1.5 percent vs 1.3 percent); education (0.8 percent vs 0.7 percent) and recreation & culture (2.2 percent vs 1.1 percent); while prices of transport rebounded (1.2 percent vs -0.1 percent). On a monthly basis, consumer prices went up 0.3 percent, after a 0.1 percent fall in July. Inflation Rate in Albania averaged 2.92 percent from 1995 until 2019, 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.
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 2.30 in 12 months time. In the long-term, the Albania Inflation Rate is projected to trend around 3.00 percent in 2020, according to our econometric models.