Annual inflation rate slightly down to 5.03pc in September

The annual inflation rate in September has slightly decreased to 5.02%, down from 5.1% in August, given that the non-food products prices increased by 6.55%, the foodstuff by 4.44%, whereas the services prices increased by 2.54%, the National Statistics Institute (INS) informs on Wednesday.

The highest level of the annual inflation rate this year was registered in May, of 5.41%, the highest since February 2013 when it peaked to 5.65%.

“The consumer prices in September 2018, as compared to September 2017, increased by 5%. The annual rate, calculated as Harmonized Consumer Price Index (HCPI) was of 4.7%. The average inflation rate, in the past 12 months (October 2017-September 2018), against the previous 12 months (October 2016-September 2017), calculated as Consumer Price Index (CPI), was of 4.5%. Calculated as HCPI it was 3.8%, INS informs.

The average monthly inflation rate in the first nine months of the year was of 0.3%, as compared to 0.1% in the similar period of 2017.

In early August, the National Bank of Romania (BNR) revised to 3.5%, down from 3.6%, the inflation prognosis for the year end. For 2019, BNR estimates an inflation rate of 2.7%, down by 0.3 percentage points.

In August, Romania had the highest inflation rate in the European Union, for the seventh consecutive month, with a 4.7% increase of consumer prices, according to Eurostat.