Romania Insider
Romania's inflation slightly exceeds expectations in December but likely to ease in Q1

Romania’s annual inflation could drop to 3% at the end of the first quarter of 2020, after reaching 4% in December, according to a report released on January 14 by Romania’s second-largest financial group, BCR.

The statistics office INS reported December’s consumer price inflation, which gained momentum to 4.0% in December from 3.8% in November and 3.4% in October.

“The supply-side pressures generated by new levels of the excise duties on tobacco, car fuels and energy products will be largely offset by the recent elimination of the supplementary excise duty on car fuels," the quoted report showed, according to Hotnews.ro.

The monthly inflation in December (+0.42% month-on-month) sent the annual CPI at 4% year-on-year, in line with BCR's own estimates but slightly above the Reuters consensus of 3.9% year-on-year.

The National Bank of Romania (BNR) also expected slightly lower inflation. BNR cut to 3.8%, from 4.2%, the inflation forecast for the end of 2019 under the November Quarterly Inflation Report, while envisaging 2.8% year-on-year inflation at the end of the first quarter and 3.1% year-on-year inflation at the end of this year.

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(Photo source: Shutterstock)

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Romania Insider
Romania's inflation slightly exceeds expectations in December but likely to ease in Q1

Romania’s annual inflation could drop to 3% at the end of the first quarter of 2020, after reaching 4% in December, according to a report released on January 14 by Romania’s second-largest financial group, BCR.

The statistics office INS reported December’s consumer price inflation, which gained momentum to 4.0% in December from 3.8% in November and 3.4% in October.

“The supply-side pressures generated by new levels of the excise duties on tobacco, car fuels and energy products will be largely offset by the recent elimination of the supplementary excise duty on car fuels," the quoted report showed, according to Hotnews.ro.

The monthly inflation in December (+0.42% month-on-month) sent the annual CPI at 4% year-on-year, in line with BCR's own estimates but slightly above the Reuters consensus of 3.9% year-on-year.

The National Bank of Romania (BNR) also expected slightly lower inflation. BNR cut to 3.8%, from 4.2%, the inflation forecast for the end of 2019 under the November Quarterly Inflation Report, while envisaging 2.8% year-on-year inflation at the end of the first quarter and 3.1% year-on-year inflation at the end of this year.

[email protected]

(Photo source: Shutterstock)

Normal

For a decade, Romania Insider has been your platform of choice for reliable information on all things Romania. We have always been proud of our ability to bring you bias-free reporting but this hasn't always been easy. We have been thinking about making some changes and can't imagine doing this without your feedback.
For this, we would appreciate it very much if we could borrow 2 minutes of your day to fill out this survey. 
Thank you for reading Romania Insider!  

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