In March, consumer prices increased 0.60% over the previous month, which was down from the 0.77% rise recorded in February. The increase mainly reflected higher prices for food and non-food items, while prices for services dropped slightly. Annual headline inflation rose from 7.6% in February to 8.0% in March, which marked the highest level since August 2008. The jump surprised market analysts, who saw inflation rising to 7.6%. Annual average inflation rose from 6.5% in February to 6.8% in March. Despite the elevated rate of inflation, at its 31 March meeting, the Central Bank left the monetary policy rate unchanged at 6.25%, for a seventh consecutive meeting. In addition, the Bank cut foreign-exchange reserve requirements by 5.0 percentage points to 20.0%, in order to allow for higher lending from commercial banks, thus boosting the economy. The minimum reserve ratio on leu-denominated liabilities was kept at 15%. The Bank will next meet on 3 May. The Central Bank has set a 3.0% inflation target for this year with a 1.0 percentage point tolerance margin and expects inflation to end the year at 3.6%, before declining to 3.2% in 2012.
Inflation accelerates further in March
April 11, 2011
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Romania Economic News
October 12, 2016
Industrial output expanded 5.3% in August from the same month last year, which was the fastest expansion in one year.
October 11, 2016
In September, consumer prices inched down 0.1% from the previous month, contrasting August’s 0.1% expansion.
September 14, 2016
Industrial output contracted 3.4% in July over the same month last year, which was the fastest contraction rate in almost seven years and contrasted the 1.1% expansion recorded in June.
September 9, 2016
In August, consumer prices inched up 0.1% over the previous month, rebounding from July’s 0.2% contraction.
September 6, 2016
In second quarter of 2016, the economy expanded 6.0% over the same period of the previous year, the fastest rate of growth since Q3 2008, according to detailed data released on 6 September.