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3.4% annual inflation rate in November. Gross average wage up to RON 4,532 in October

The annual inflation rate fell in November to 3.4%, down from 4.3% in October, when the prices of non-food goods grew by 4.24%, the prices of foodstuff by 2.86% and services recorded an advance of 2.5%, the National Statistics Institute (INS) informs on Tuesday.

This year, the highest annual inflation rate was recorded in May, i.e. 5.41%, the highest level since February 2013, when consumer goods prices grew by 5.65%.

“In November 2018 the consumer prices increased by 3.4% against November 2017. The annual inflation rate, calculated on the basis of the Harmonized Index of Consumer Prices (HICP) is of 3.2% .The average inflation rate in the past 12 months (December 2017 – November 2018) compared to the previous 12 months (December 2016 – November 2017), based on the CPI, is 4.6%, and based on the HICP the average rate is 4.0%,” INS informs.

As compared to October 2018, the consumer prices fell by 0.13%, foodstuff prices decreased by 0.27%, non-food goods by 0.13%, whereas the services prices increased by 0.11%.

The average monthly inflation rate in the first 11 months of this year was of 0.3%, similar to the one in the same period of 2017.

In another development, the gross average wage reached in October the level of RON 4,532, up by 1.1% against the previous month, whereas the net average wage increased by 1.29% (up by RON 32) to RON 2,720, INS further informs.

The highest wages were registered in services and IT field and the lowest in hotels and restaurants.

As compared to October 2017, the net nominal average wage increased by 13.7%.

In the state employees sector, increases of the net average wage against the previous month were registered in education (+4.2%, following the implementation of the payment by hour for the teachers), in public administration (0.4%), in the health system and social assistance (+0.3%).

About Valeriu Lazar