Romania’s annual inflation rate goes up to highest level since 2013

12 December 2017

The annual inflation rate, which measures the evolution of consumer prices in the last year, climbed to 3.23% in November, the highest level since August 2013, when it reached 3.67%, according to data from the National Statistics Institute (INS).

Food products were 0.57% more expensive in November over October, while the prices of non-food products went up 0.86% month-on-month. Meanwhile, the services got 0.33% more expensive.

Eggs saw the biggest price increase in November compared to October, of almost 30%. Butter was also more expensive, its price going up by 7%, while the prices of fuel went up by 2.7%.

When compared to November 2016, the prices of food products increased by 3.88% in November this year while the non-food products got 4.12% more expensive.

Central bank governor Mugur Isarescu said in November that the annual inflation rate might spike to 3.9% at the beginning of next year, and then gradually fall to 3.2% by the end of 2018. The National Bank (BNR) has also revised upwards its inflation rate forecast for the end of this year, to 2.7%.

Irina Marica, irina.marica@romania-insider.com

Normal

Romania’s annual inflation rate goes up to highest level since 2013

12 December 2017

The annual inflation rate, which measures the evolution of consumer prices in the last year, climbed to 3.23% in November, the highest level since August 2013, when it reached 3.67%, according to data from the National Statistics Institute (INS).

Food products were 0.57% more expensive in November over October, while the prices of non-food products went up 0.86% month-on-month. Meanwhile, the services got 0.33% more expensive.

Eggs saw the biggest price increase in November compared to October, of almost 30%. Butter was also more expensive, its price going up by 7%, while the prices of fuel went up by 2.7%.

When compared to November 2016, the prices of food products increased by 3.88% in November this year while the non-food products got 4.12% more expensive.

Central bank governor Mugur Isarescu said in November that the annual inflation rate might spike to 3.9% at the beginning of next year, and then gradually fall to 3.2% by the end of 2018. The National Bank (BNR) has also revised upwards its inflation rate forecast for the end of this year, to 2.7%.

Irina Marica, irina.marica@romania-insider.com

Normal
 

facebooktwitterlinkedin

1

Romania Insider Free Newsletters