Romania: Inflation hits new record low
February 13, 2012
In January, consumer prices rose 0.36% over the previous month, which came in above the 0.23% rise recorded in December. The increase was the result of higher prices for non-food items, as well as for services. Annual headline inflation, however, fell from 3.1% in December to 2.7% in January, which was within the Central Bank's tolerance margin of 2%-4%, and marked yet another post-communist era record low. The reading was below market expectations that had inflation inching down to 3.0%. Annual average inflation dropped from 5.8% in December to 5.5% in January. Despite moderating inflation, the Central Bank raised its inflation forecast for this year to 3.2% from 3.0%, and expects a 3.0% rate for 2013.