14 Decembrie 2009
Tobacco and gasoline ignite November inflation
Romania’s inflation in the 12-month period through November climbed 4.65%, as consumer prices rose 0.67% from October, higher than analysts’ estimates, following price increase of food and non-food products, retail-sales data provided by the National Institute of Statistics show. The biggest price increase was observed for tobacco, cigarettes and fuels.
Analysts’ forecast had indicated an annual inflation rate of 4.3-4.5%, and consumer prices to rise 0.3-0.5%, led by tobacco, and said the central bank is very likely to contain inflation within the year-end target range, the primary risk being the devaluation of the local currency.
In October, the annual inflation rate was 4.3%.
Consumer prices increased in November by 0.67% compared to a month earlier, as non-food products climbed 1.11%, food rose 0.41%, while utility services increased 0.14%, according to data provided by the national statistical office.
Year-to-date, in Romanians’ shopping basket food products accounted for 37.58%, non-food products 44.05% and utility services 18.37%.
The biggest price increase in November was observed for eggs (7.46%), tobacco (5.48%) fruits (2.34%) and other vegetables and canned vegetables (1.96%). Fuels prices increased 1.66% in the period under review.
However, citrus fruits dropped 1.78%, potatoes prices decreased 0.78%, oil was 0.52% cheaper, corn flour prices fell 0.1% and flour 0.06%.
As for non-food products, except for tobacco and fuel, leather footwear prices grew 0.76%. Prices of electricity, natural gas and heating remained at October level. Drug prices dropped 0.12%.
Rents fell slightly in November, by 0.01% and by 2.65% year-to-date. Transport increased 0.32% and other services by 0.48%.
The average increase in consumer prices in the 12-month period through November compared to a year earlier fell to 5.7% from 5.9% in October, and consumer price index-based inflation decreased to 5.7% from 5.9%.
The National Bank of Romania has set an inflation target range of 3.5% with a +/-1% tolerance band. In its latter projection, the central bank lifted inflation target from 4.3% to 4.5%, on higher tobacco excise.
In October, the annual inflation rate was 4.3%.
Consumer prices increased in November by 0.67% compared to a month earlier, as non-food products climbed 1.11%, food rose 0.41%, while utility services increased 0.14%, according to data provided by the national statistical office.
Year-to-date, in Romanians’ shopping basket food products accounted for 37.58%, non-food products 44.05% and utility services 18.37%.
The biggest price increase in November was observed for eggs (7.46%), tobacco (5.48%) fruits (2.34%) and other vegetables and canned vegetables (1.96%). Fuels prices increased 1.66% in the period under review.
However, citrus fruits dropped 1.78%, potatoes prices decreased 0.78%, oil was 0.52% cheaper, corn flour prices fell 0.1% and flour 0.06%.
As for non-food products, except for tobacco and fuel, leather footwear prices grew 0.76%. Prices of electricity, natural gas and heating remained at October level. Drug prices dropped 0.12%.
Rents fell slightly in November, by 0.01% and by 2.65% year-to-date. Transport increased 0.32% and other services by 0.48%.
The average increase in consumer prices in the 12-month period through November compared to a year earlier fell to 5.7% from 5.9% in October, and consumer price index-based inflation decreased to 5.7% from 5.9%.
The National Bank of Romania has set an inflation target range of 3.5% with a +/-1% tolerance band. In its latter projection, the central bank lifted inflation target from 4.3% to 4.5%, on higher tobacco excise.