Albania’s CPI fell 0.1% in November

Tirana, Dec. 9, 2008 (AENews) – Consumer Price Index fell 0.1% in November compared to October, as result of falling oil prices, National Institute of Statistic INSTAT said today.

Yearly inflation was +2.6% in November, well bellow Bank of Albania’s target of 3%. Diesel price fell 9% according to INSTAT, while benzene fell by 9.5%.

Albania was affected less then the rest of the region from rising prices of food and fuel last summer.  Monetary policy remained neutral during that crisis, but trade deficit and current account deficit increased steadily during this year, while national currency lek, remained stable. Base interest rate in the country REPO, was increased for the last time on November 2007 by 25 base point to 6.25%.

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Posted by Gjergj Erebara on Dec 9 2008. Filed under Economy, General News. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry