Romania: Inflation inches down in March
April 10, 2014
In March, consumer prices were virtually unchanged over the previous month, which was below the 0.3% increase recorded in February. According to the National Institute of Statistics (INSSE), the flat reading resulted from higher prices for non-food goods and services which offset lower prices for food goods.
Annual headline inflation inched down from 1.1% in February to 1.0% in March, which marked the lowest rate on record. Inflation is still below the Central Bank's tolerance margin of plus/minus 1.0% around its target of 2.5%. Annual average inflation fell from 3.2% in February to 2.9% in March, which is the lowest level since August 2012.
The Central Bank foresees inflation ending 2014 at 3.0%. FocusEconomics Consensus Forecast panelists see inflation of 3.9% by the end of 2014, which is up 0.1 percentage points from last month's forecast. For 2015, panelists anticipate 3.6% inflation.
Author: Dirina Mançellari, Senior Economist