Romania: Inflation inches up in October
November 10, 2011
In October, consumer prices rose 0.64% over the previous month. The print contrasted the 0.21% decline in September and marked the first rise after four consecutive monthly price drops. The increase was the result of higher prices for food, as well as for services. Annual headline inflation inched up from 3.5% in September to 3.6% October, within the Central Bank's tolerance margin of 2%-4%, but defying market expectations that had inflation falling to 3.2%. Nevertheless, annual average inflation dropped from 7.0% in September to 6.6% in October. The Central Bank expects inflation to end this year at 3.3% and to fall further to 3.0% by the end of next year.