Romania’s industrial prices drop by 2.6% y/y in November

Industrial production prices for the total (domestic and non-domestic) market increased by 0.2% m/m in November 2023, Romania’s statistics office INS announced.

Compared to November 2022, the industrial production prices decreased by 2.6% y/y. This reversed a small part of the 35% y/y advance marked as of November 2022.

The annual drop in industrial prices as of November 2023 was driven by the prices of energy items, which decreased by nearly 8% y/y – reversing a small part of the 75% y/y advance as of November 2022. The prices of intermediary goods contracted by 5% y/y in 12 months to November 2023, again reversing a fraction of the 19% y/y advance marked as of November 2022.

As regards the consumer goods (durable and non-durable), they demonstrate higher inertia and still increase by 3.9% y/y and 4.0% y/y, respectively, as of November 2023 (at rates favourable to consumer price disinflation, as headline inflation was still 6.7% y/y in November) after the +15% y/y and +21% y/y growth rates marked in November 2022.

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