Romania: Inflation eases further in December
January 13, 2014
In December 2013, consumer prices rose 0.3%, which was above the virtually flat reading recorded in November. According to National Institute of Statistics (INSSE) the reading was the result of higher prices for non-food goods and services, which offset lower prices for food goods.
Annual headline inflation edged down from 1.8% in November to 1.6% in October. Inflation is still within the Central Bank's tolerance margin of plus/minus 1.0% around its target of 2.5%. In addition, annual average inflation edged down from 4.3% in November to 4.0% in December.
The Central Bank foresees inflation ending 2014 at 3.0%. FocusEconomics Consensus Forecast panelists see inflation at 3.9% by the end of 2014, which is up 0.1 percentage points from last month's forecast. For 2015, panelists anticipate an inflation rate of 3.6%.
Author: Dirina Mançellari, Senior Economist