Inflation rate in Albania decreased to 1.9 percent in October of 2018 from 2.1 percent in the previous month. It was the lowest inflation rate since January, mainly due to lower prices of food & non-alcoholic beverages (1.8 percent from 2.6 percent in September), namely meat (0.5 percent from 1 percent) and fruits (0.2 percent from 3.8 percent). Also, cost slowed for recreation & culture (3.2 percent from 5.2 percent) and inflation was steady for miscellaneous goods & services (0.1 percent, the same as in September); communication (0.7 percent) and restaurant & hotels (1 percent). On the other hand, prices rose faster for housing & utilities (3.4 percent from 2.9 percent); transport (4.3 percent from 3.2 percent); alcoholic beverages & tobacco (1.8 percent from 1.7 percent) and education (0.8 percent from 0.5 percent). On a monthly basis, consumer prices went down 0.2 percent, after a 0.2 percent gain in September. Inflation Rate in Albania averaged 2.98 percent from 1995 until 2018, 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 2.20 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 2.70 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.