Annual inflation rate up to 1.8 pct in September

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The annual inflation went up in September to 1.8 pct from 1.2 pct in August, according to data of the National Institute of Statistics (INS) on Wednesday.

Prices increased in September by 0.5 pct as compared to August.

“Consumer prices in September 2017, Y-o-Y, increased 1.8 pct. The average rate of consumer prices over the last 12 months (October 2016 – September 2017), Y-o-Y, calculated against the CPI [consumer price index – ed.n.] stands at 0.4 pct. Determined on the Harmonised Index of Consumer Prices (HICP) basis, the average rate is 0.5 pct,” reads the release.

Prices of food products went up last month 0.54 pct, similar to those of non-food products while service tariffs increased 0.32 pct.

The National Bank of Romania (BNR) revised at the beginning of August the inflation forecast for the end of this year to 1.9 pct, given that it had previously estimated a 1.6 pct inflation rate, down 0.1 percentage points.

For the end of 2018, BNR estimates a 3.2 pct inflation rate, as compared to 3.1 pct previously estimated.