Romania: Inflation exceeds Central Bank target
January 11, 2013
In December, consumer prices rose 0.6% over the previous month, which was well above both the virtually flat reading recorded in November and market expectations of a 0.3% rise. The monthly jump was the result of higher prices for food and non-food items, which overcompensated for lower prices for services.
Annual headline inflation climbed from 4.6% in November to 5.0% in December, above the Central Bank's tolerance margin of 3.0% plus/minus 1.0%. The reading exceeded both market expectations of a 4.6% rate and the 3.1% recorded in December 2011. Annual average inflation inched up from 3.2% in November to 3.3% in December.