In December, consumer prices increased 0.53% over the previous month, which was virtually unchanged from the 0.52% rise recorded in November. The increase mainly reflected higher prices for food and non-food items, while services remained virtually unchanged. Annual headline inflation increased from 7.7% in November to 8.0% in December, the highest level since September 2008. The surge in inflation continues to reflect July's 5 percentage-point increase in the VAT, which boosted prices throughout the economy. That said, the figure came in below the Central Bank's November forecast of 8.2% and overshot the Bank's 2010 3.5% inflation target by a wide margin. Despite the level of inflation steadily rising, at its 5 January meeting, the Board of the National Bank of Romania (NBR) left the monetary policy rate unchanged at 6.25%, where it has remained since May last year. The next policy meeting is scheduled for 3 February. 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 3.4%.
Inflation hits two-year high in December
January 12, 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.