3.3% annual inflation rate in January. Industrial production – by 3.5% larger in 2018 against the previous year

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Consumer prices grew by 0.8% in January 2019 against December 2018, whereas the annual inflation rate was of 3.3%, given the price increases of foodstuff by 3.77%, of non-food goods by 3.29% and of services by 2.71%, the National Statistics Institute (INS) informs on Wednesday.

The average rate of consumer prices in the past 12 months (February 2018-January 2019) against the previous 12 months (February 2017-January 2018) is of 4.5%.

The National Bank of Romania (BNR) has recently increased the inflation forecast for this year to 3% and for 2020 to 3.1%.

In terms of industrial output, in December 2018 it decreased by 15.6% against the previous month as gross series and by 0.9% as series adjusted by working days and seasonality, INS also informs.

Industrial production in 2018, as gross series, was by 3.5% larger than in 2017, due to the processing industry (+4.3%). The mining and quarrying fell by 0.2% whereas the energy and thermal production was at the same level as in the previous year.

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