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Prices of food and educational services with the highest increase in June

2024-07-17 18:28:30 / EKONOMI&SOCIALE ALFA PRESS

Prices of food and educational services with the highest increase in June
The measurement of inflation according to Eurostat's methodology from the Harmonized Index of Consumer Prices in June 2024 was 2.5%. This result was higher than the national measurements, which for the same month resulted in 2.1%.

According to Eurostat, the largest price increase of 3.8% is observed in the group "Educational service", followed by the groups "Food and non-alcoholic beverages" with 3.7%, "Clothing and shoes" with 3.0%, "Beverages" alcohol and tobacco" with 2.9%, "Furniture, household appliances and maintenance" with 2.6%, "Miscellaneous goods and services" with 2.5%, "Health" with 2.4%, "Hotels, cafes and restaurants" with 2.3%, "Rent, water, fuel and energy" with 1.6%, "Entertainment and culture" with 0.7%, "Transport" and "Communication" with 0.2% each.

In June 2024, the monthly change measured by the Harmonized Index of Consumer Prices is -0.2%. This change was mainly influenced by the price reduction of the group "Food and non-alcoholic beverages" by 0.5%, followed by "Entertainment and culture" by 0.4%, "Transportation" by 0.2%, "Rent, water, fuel and energy" and "Educational service" with 0.1% each.

On the other hand, the prices of the group "Clothing and shoes" increased by 0.3%, followed by the groups "Alcoholic beverages and tobacco" and "Furniture, household appliances and maintenance" by 0.2% each, "Goods and services different" by 0.1%.

In the EU, the average inflation was 2.6% in June. The highest level of price increase was in Belgium, Romania and Iceland with over 5% and on the other hand the increase was lower in Finland, Italy and Lithuania with less than 1%.

In order to help the design of policies and to realize a better comparability with other countries, in coordination with Eurostat, INSTAT took steps towards the creation of a common methodological base of the member states for the construction and use of the IHÇK , according to the Regulation of the European Council (EC), no. 2494/95, dated October 23, 1995.

Eurozone inflation is measured on the basis of the HICP indicator. The term "harmonized" underlines the fact that all EU countries apply the same methodology in measuring the relevant indicator.

Changes in the contribution from one indicator to another are related to the fact that the composition of the weights of goods within the group "Food and non-alcoholic beverages" is different from one indicator to another.

Thus, within this group, the subgroup "Fruit - Vegetables" has a greater weight in the basket of IHÇK (12.84% of the total basket) than in that of iÇK (8.44% of the total).

Due to this change, the contribution of this group of goods to the total is equal to 2.5 percentage points in the case of the IHÇK indicator and to 1.2 percentage points in the case of the IÇK. Small changes in contributions are also observed in some other groups, but not to the magnitude of the change in the above case.

In conclusion, the subgroup "Fruit-Vegetables" has created 1.3 percentage points or more than 80% of the inflation difference measured according to the two indicators (3.84% versus 2.38%).

The items of the relevant baskets in the case of Albania, the CPI contains 332 items; IHÇK contains 331 items (imputed rent is not an element of the basket).

The CPI covers only private Albanian family expenses incurred within the territory of the country. The main source of data on expenditures (“weights”) is the Household Budget Survey (HFS); The IHÇK covers all expenses incurred within the territory of the country by Albanian families, as well as the expenses of resident and non-resident visitors.

The main source of data on expenditures ("weights") are the National Accounts "Final Household Consumption Monetary Expenditure (HFMCE)"./Monitor

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