Romania Inflation


Romania: Consumer prices drop less in November

December 11, 2015

In November, consumer prices rose 0.3% over the previous month, which matched October’s reading and marked a second consecutive month of rising prices. Before, consumer prices had been falling in monthly terms since June, mainly resulting from the reduction of the value added tax (VAT) for food items and beverages from 24% to 9% on 1 June.

In annual terms, consumer prices declined 1.1% in November, which marked a fairly softer drop than October’s 1.6% fall. Nevertheless, in November, inflation remained far below the Central Bank’s tolerance margin of plus/minus 1.0% around its target of 2.5% target. On average, consumer prices fell 0.5% in annual terms in November (October: -0.3% year-on-year), marking yet another record-low.

Consensus Forecast panelists expect consumer prices to drop 0.6% at the end of 2015, which is unchanged from last month’s forecast. For 2016, panelists forecast inflation of 0.2%, which is also unchanged from last month’s Consensus.

Author: Teresa Kersting, Economist

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Romania Inflation Chart

Romania Inflation November 2015

Note: Year-on-year and month-on-month variation of consumer price index in %.
Source: National Institute of Statistics.

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