Romania's annual inflation hits 6.89% in February, tops forecasts

The annual rate of inflation upped to 6.89 percent in February from 6.71 percent in the previous month, exceeding analysts' expectations, underpinned mainly by the rise in prices for non-food stuff and services, according to INS statistic report, NewsIn informs.

Analysts polled by NewsIn saw the annual inflation between 6.5 percent and 6.7 percent in February.

Consumer prices climbed 0.88 percent in February on the previous month, the growth stemming mainly from a rise of 1.31 percent in prices for non-food products and a 1.03 percent advance in tariffs for services. Prices for food products went up 0.32 percent.

Starting with the beginning of this year, the consumer basket in Romania, which is used by INS to calculate inflation, features a weight of 37.58 percent for food, 44.05 percent for non-food stuff and 18.37 percent for services.

The largest jumps in prices last month were reported for drugs (6.47 percent), medical products (6.15 percent), potatoes (4.31 percent), fuel (3.29 percent), books, magazines and newspapers (2.52 percent) and heat (2.31 percent).

Prices for meat and meat products upped on average 0.63 percent, bread was 0.05 percent more expensive, sugar saw its price up 2.50 percent and prices for milk climbed 1.72 percent on the first month of the year. Cigarettes were 0.64 percent more expensive.

Rental tariffs increased on average 1.35 percent and prices for telephone services jumped 1.51 percent.
However, prices for eggs fell by 3.71 percent and for cooking oil by 4.06 percent, according to the INS data.

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