Annual inflation rate up to 3.83% in February

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Consumer prices increased by 0.79% in February 2019 against the previous month, whereas the annual inflation rate has reached 3.83%, given the more expensive foodstuff by 4.46%, nonfood goods by 3.74% and services by 3.08%, the National Statistics Institute (INS) informs on Tuesday.

In January, the annual inflation rate was of 3.3%.

“Consumer prices in February 2019 increased against February 2018 nu 3.8%. The annual rate calculated on the base of the Harmonized Index of Consumer Prices (HACP) is 4%. The average consumer prices in the past 12 months (March 2018-February 2019) as compared to the previous 12 months (March 2017-February 2018), calculated on the basis of Consumer Price Index, is of 4.5%. Calculated on the basis of HACP the average rate is 4.1%,” the INS release reads.

The National Bank of Romania (BNR) has increased to 3% the prognosis on inflation for this year and anticipates 3.1% inflation by the end of next year, as announced in February by Governor Mugur Isarescu. BNR says the annual inflation rate will continue to drop in Q3 2019 (2.4%) based on exogenous components and on the consumer basket.

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