Romania: Inflation steady at lowest level in more than a year
November 11, 2013
In October, consumer prices rose 0.3% over the previous month, which contrasted the 0.6% fall recorded in September. The reading was the result of higher prices for goods and services.
Annual headline inflation remained at September's 1.9%, its lowest level in more than a year. Inflation is still within the Central Bank's tolerance margin of plus/minus 1.0% around its target of 2.5%. In addition, annual average inflation edged down from 4.8% in September to 4.5% in October.
The Central Bank foresees inflation ending both 2013 and 2014 at 3.1%. FocusEconomics Consensus Forecast panelists see inflation at 3.9% by the end of 2013, which is up 0.1 percentage points from last month's forecast. For 2014, panelists anticipate an inflation rate of 3.6%, which is down 0.1 percentage points from last month's projection.
Author: Dirina Mançellari, Senior Economist