ATA News

INSTAT: Albania’s inflation slows down to 2.6 % in February 2024

TIRANA, March 10 /ATA/ – Albania’s annual consumer prices inflation decelerated to 2.6% year-on-year in February 2024, the statistics institute, INSTAT, said on Friday.

According to INSTAT, this is the lowest inflation rate since recorded in the country since October 2021 before the price crisis first as a result of the problems caused by the pandemic in the supply chain, followed by the disruptions caused by the Russian aggression on Ukraine when the inflation rate soared to 8% in 2022.

The current inflation rate is below the Bank of Albania’s 3% fixed target.

The annual consumer price increase in February was mainly driven by the groups of food and non-alcoholic beverages group, the rent, water, fuel and energy, as well as the entertainment and culture group.