Loading ...October’s monthly inflation rate was 1.06%, advancing slightly year-on-year (Oct. 2008 – Oct. 2007) to 7.39% from 7.3% in September, shows data published on Tuesday by the National Statistics Institute (INS). The aggregate inflation rate over the first ten months of the year was 5.72% and the monthly average was 0.6%, as to 0.5% in 2007.
Compared to September 2008, foodstuff prices advanced 1.1%, non-food prices inched up 0.5, whereas service tariffs climbed 2.2%. Compared to October 2007, foods grew 6.91% more expensive, service tariffs went up 7.92% and non-food prices climbed 7.58%.
Overall, the average price growth in the past 12 months (Nov. 2007 – Oct. 2008) from the previous 12 months (Nov. 2006 – Oct. 2007) calculated on the basis of the consumer price index (CPI) and of the harmonized consumer price index is 7.9%.
Overall, the average price growth in the past 12 months (Nov. 2007 – Oct. 2008) from the previous 12 months (Nov. 2006 – Oct. 2007) calculated on the basis of the consumer price index (CPI) and of the harmonized consumer price index is 7.9%.
In early November, the National Bank of Romania (BNR) revised its 2008 inflation projection upwards from 6.6 to 6.7%; BNR took a similar step for the 2009 inflation projection, adjusting the figure from 4.2 to 4.5%.
The inflation target was further kept at 3.8% for 2008 and 3.5% for 2009, plus/minus 1%.
The inflation target was further kept at 3.8% for 2008 and 3.5% for 2009, plus/minus 1%.
In its autumn forecasts, the European Commission amended its projection on Romania’s inflation rate by 0.2% for 2008 to 7.8%, and by 0.9% for 2009, respectively, to 5.7%, anticipating also a reduction of the annual rate to 4% in 2010.
The National Forecast Commission (CNP) expects the end-December 2008 annual inflation rate to stand at 5.8% and the average annual inflation rate to be 7.6%.
The National Forecast Commission (CNP) expects the end-December 2008 annual inflation rate to stand at 5.8% and the average annual inflation rate to be 7.6%.
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