Romania’s annual inflation rate reached 1.8% in September, the highest level in four years, according to the National Statistics Institute (INS).

In August, the annual inflation rate amounted to 1.2%.

Prices rose by 0.5% in September over the previous month as fuel prices went up by 2.19% due to the extra excise and food prices increased by an average 0.54%. The highest price increases in September over the previous month were recorded at other vegetables and canned vegetables (5.11%) and eggs (4.16%).

Compared to September 2016, food prices grew by 2.74% in September this year whereas non-food prices went up by 1.8%. Services prices fell by 0.16% year-on-year.

Romania’s National Bank (BNR) revised upwards its inflation prognosis for the end of this year to 1.9%. It previously estimated an inflation rate of 1.6%. BNR expects the inflation rate to reach 3.2% at the end of 2018.

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editor@romania-insider.com