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The Harmonized Index of Consumer Prices, which measures the increase in prices according to the methodology of the 'European Statistics Agency', in November 2023 is recorded at 4.5%. From the data, we recall that the inflation for the month of November of this year according to the methodology of 'INSTAT' is 3.9%.
Compared to other European countries, Albania ranks among the 15 countries with the highest annual rate of price increase. This is confirmed by the figures of this indicator for the month of November, where it turns out that the inflation rate in our country has exceeded the inflation rate in the European Union.
The average price increase in Europe for the same month is recorded at 3.1%, while in Albania this rate reaches 4.5%. Turkey, the Czech Republic and Serbia are ranked as the countries with the highest price increases in Europe, of 62.1%, 8% and 7.9% respectively, followed by Hungary and Iceland with 7.4% and 6.9%.
North Macedonia and Kosovo rank below the European Union average in terms of price growth with an inflation rate of 3% and 2.9% respectively. Meanwhile, only Belgium has recorded a drop in prices in November as the consumer price index indicator stands at -0.8%.
The largest increase in prices of 7.7% is observed in the group "Food and non-alcoholic beverages", followed by the groups "Entertainment and culture" with 7.2%, "Educational services" with 4.7%, "Furniture, home appliances and maintenance" with 4.3% , "Hotels, cafes and restaurants" with 3.6%, "Alcoholic beverages and tobacco" with 3.3%, "Miscellaneous goods and services" with 3.2%, "Clothing and shoes" with 3.0%, "Health" with 1.3%, " Communication" with 0.5% and "Rent, water, fuel and energy" with 0.4%. On the other hand, the prices of the "Transporti" group decreased by 2.3%.
In November, the monthly change measured by the Harmonized Index of Consumer Prices is -0.4%. This change was mainly influenced by the price reduction of the group "Entertainment and culture" by 0.8%.
As for the contribution of the groups, the group "Food and non-alcoholic beverages" had the greatest impact with 2.6 percentage points and "Entertainment and culture" with 0.64 percentage points. On the other hand, the "Hotels, cafes and restaurants" group had an impact of 0.49 percentage points. Only the "Transport" group contributed negatively with 0.2 percentage points./ ScanTv
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