Annual inflation rate slightly declines to 3.3 pct in December, below BNR forecast

Postat la: 14.01.2019 12:32

The annual inflation rate declined slightly, to 3.3 percent in December 2018, from 3.4 percent in November, according to data released by the National Institute of Statistics on Monday.

The annual inflation rate is thus below the 3.5 percent forecast of the National Bank of Romania (BNR) announced for 2018.

In December 2018, as compared to December 2017, the price of food products grew by 3.10 percent, non-food items by 3.75 percent and services by 2.44 percent.

The annual rate based on the Harmonized Index of Consumer Prices (HICP) is 3 percent, according to INS.

The average inflation rate in the last 12 months (January 2018 - December 2018) over the previous 12 months (January 2017 - December 2017), based on the CPI (Consumer Price Index), is 4.6 percent. Determined on the HICP, the average rate stands at 4.1 percent.

Although it recorded a significant fall in November 2018, from 4.3 percent in October to 3.4 percent, the annual inflation rate in Romania remained the highest in the European Union.

Read also: Labour Minister Budai: Believe to have budget in February

In 2018, the highest annual inflation rate was recorded in May, namely 5.41 percent, the highest level since February 2013, when consumer price inflation was 5.65 percent.

The National Bank of Romania kept the inflation forecast for the end of 2018 at 3.5 percent and increased to 2.9 percent, from 2.7 percent, the forecast for 2019, announced BNR Governor Mugur Isarescu.



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