Annual inflation rate up to 1.8pc in September

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The annual inflation rate rose to 1.8% in September, up from 1.2% in August, the National Statistics Institute (INS) informs on Wednesday.

The prices rose by 0.5% in September against August this year.

“Consumer prices in September 2017, as compared to September 2016, increased by 1.8%. The average consumer prices in the past 12 months (October 2016-September 2017) as compared to the previous 12 months (October 2015-September 2016) , calculated on the basis of the CPI, is 0.4%. Determined on an HICP basis, the average rate is 0.5%,” the INS communiqué reads.

Foodstuffs prices grew by 0.54% last month, non-food goods by a similar percentage while services prices went up 0.32%.

In early August, the National Bank of Romania (BNR) revised the inflation forecast for the end of this year to 1.9%, as it previously estimated an inflation rate of 1.6%.

For the end of 2018, the BNR estimates an inflation rate of 3.2%, up from 3.1% previously estimated.

 

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