Romania: Inflation falls to almost one-year low in November

Consumer prices dropped 0.1% over the previous month in November, contrasting October’s 0.5% increase. Lower prices for food and non-food goods drove the result, offsetting higher prices for services. Vegetables, fruit and fuels recorded the sharpest decreases in prices, while medical care recorded the largest increase.

Inflation fell from October’s 4.3% to a 11-month low of 3.4% in November, thus moving within the Central Bank’s target range of 1.5%–3.5% for the first time in 11 months. Meanwhile, annual average inflation remained stable at October’s 4.6% in November, the highest level since September 2013.

Romania Inflation Forecast

FocusEconomics Consensus Forecast panelists see inflation averaging 3.2% in 2019, which is unchanged from last month’s forecast. For 2020, panelists expect average inflation of 3.0%.