TIRANA, Sept 9 /ATA/ IInflation rate dropped to 2% in August, marking the lowest level since June 2021. 

INSTAT published on Monday the Consumer Price Index, a report indicating that the wave of price hikes triggered by the COVID-19 pandemic and the military aggression in Ukraine has been contained. 

“The annual change in the consumer price index in August 2024 is 2%, a year ago this change was 4%. The monthly change in the consumer price index in August 2024, compared to July 2024 is 0.5%,” in the INSTAT report said. 

The annual price increase in August was mainly influenced by the group “food and non-alcoholic beverages” by 0.86 percentage points, followed by the group “rent, water, fuels and energy” by 0.29 percentage points. 

Compared to August 2023, the largest price increase is observed in the “entertainment and culture” group by 4%, followed by the groups “clothing and footwear” with 3.9%, “alcoholic beverages and tobacco” by 3.6%, “furniture, household appliances and maintainence” by 3.5%, “Food and nonalcoholic beverages” by 2.4%, “educational service” by 2.2%. 

Prices in “hotels, cafes and restaurants” increased by 1.8%, “rent, water, fuel and energy” by 1.5%, “healthcare” by 1.4%, “communication” by 0.6%. 

On the other hand, the prices of the “transport” group marked a decrease of 3.1%. 

Within the food group, the prices of the subgroup “vegetables including potatoes” increased by 5.5%, followed by the subgroups “milk, cheese and eggs” by 4.4%, “fish” by 4.2%, “meat” by 3.1%. 

Compared to July 2024, the prices of the group “entertainment and culture” increased by 1.8%, followed by “food and non-alcoholic beverages” by 1%, “clothing and footwear” by 0.6%, “alcoholic beverages and tobacco”, rent, water, fuel and energy” and “communication” by 0.4% each.