Romania: Inflation falls in March
April 10, 2013
In March, consumer prices were virtually unchanged over the previous month, following a 0.3% increase in February and undershooting market expectations that had prices rising also 0.3%. The print was mainly due to an increase in prices for services that offset a fall in prices for food and non-food items.
As a result, annual headline inflation dropped from 5.7% in February to 5.3% in March, which, nevertheless, is still above the Central Bank's tolerance margin of 2.5% plus/minus 1.0%. Annual average inflation rose from 3.9% in February to 4.1% in March, reaching the highest rate in a year.
The Bank expects inflation to end this year at 3.5%. FocusEconomics Consensus Forecast panellists see inflation at 3.9% by the end of this year, which is up 0.1 percentage points from last month's result. For 2014, panellists anticipate an inflation rate of 3.6%.