Romania’s headline inflation accelerates to 4% in March

11 April 2019

Romania’s headline inflation accelerated to 4% year-on-year in March, from 3.8% in February and 3.3% in January, the National Institute of Statistics (INS) informed.

Food prices rose by 4.45%, and the non-food prices increased by 4.15%, while the fees paid for services increased by only 3.18%.

Calculated under the European Union’s methodology (harmonized basket of consumer goods), the HICP inflation hit 4.2% year-on-year, up from 4.0% in February and 3.8% in January.

The consumer prices averaged over the past 12 months period increased by 4.4% against the previous 12-month period (year-on-year) under national methodology (that better reflects the local consumer basket) and by 4.1% under HICP methodology.

Romania's National Bank (BNR) considered in its April 2 monetary board revising the projected inflation trajectory (over the 2-year forecast period) upward compared to previous February Inflation Report, but the revised forecast will be revealed only with the next inflation report in May. However, on the medium term, the headline inflation will remain above 3.5% year-on-year, board members concluded.

“The annual inflation rate will probably remain on the short term above the upper limit of the target band (1.5% -3.5%) along a significantly superior trajectory compared to the one outlined in the medium-term forecast published in the February 2019 Inflation Report, which predicts annual inflation at 3% in December 2019 and at 3.1% at the end of 2020,” the monetary board’s minute reads.

editor@romania-insider.com

(Photo source: Pexels.com)

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Romania’s headline inflation accelerates to 4% in March

11 April 2019

Romania’s headline inflation accelerated to 4% year-on-year in March, from 3.8% in February and 3.3% in January, the National Institute of Statistics (INS) informed.

Food prices rose by 4.45%, and the non-food prices increased by 4.15%, while the fees paid for services increased by only 3.18%.

Calculated under the European Union’s methodology (harmonized basket of consumer goods), the HICP inflation hit 4.2% year-on-year, up from 4.0% in February and 3.8% in January.

The consumer prices averaged over the past 12 months period increased by 4.4% against the previous 12-month period (year-on-year) under national methodology (that better reflects the local consumer basket) and by 4.1% under HICP methodology.

Romania's National Bank (BNR) considered in its April 2 monetary board revising the projected inflation trajectory (over the 2-year forecast period) upward compared to previous February Inflation Report, but the revised forecast will be revealed only with the next inflation report in May. However, on the medium term, the headline inflation will remain above 3.5% year-on-year, board members concluded.

“The annual inflation rate will probably remain on the short term above the upper limit of the target band (1.5% -3.5%) along a significantly superior trajectory compared to the one outlined in the medium-term forecast published in the February 2019 Inflation Report, which predicts annual inflation at 3% in December 2019 and at 3.1% at the end of 2020,” the monetary board’s minute reads.

editor@romania-insider.com

(Photo source: Pexels.com)

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