Romania Inflation

Romania

Romania: Consumer prices record slightly softer drop in October

November 11, 2015

In October, consumer prices rose 0.3% over the previous month, which matched September’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 1.6% in October, which marked a slightly softer drop than September’s 1.7% fall. Nevertheless, in October, 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 0.3% in annual terms in October (September: no change year-on-year), marking the lowest reading on record.

Consensus Forecast panelists expect consumer prices to drop 0.5% at the end of 2015, which is down 0.4 percentage points from last month’s forecast. For 2016, panelists forecast inflation of 0.1%, which is down 0.3 percentage points from last month’s Consensus.


Author: Teresa Kersting, Economist

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Romania Inflation Chart


Romania Inflation October 2015

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


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