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April 12, 2021

Romania’s December 2015 annual inflation rate below zero, EU’s second lowest

Romania posted in December 2015 an annual inflation rate of -0.7 percent, the second lowest in the EU28, shows data released on Tuesday by the European Statistical Office (Eurostat).

According to the cited source, the annual inflation rate in the euro area was 0.2 percent in December 2015, up from 0.1 percent in November. Twelve member states registered negative rates, with the lowest annual rates registered in Bulgaria (- 0.9 percent), Romania (- 0.7 percent), Cyprus and Slovenia (both – 0.6 percent). At the opposite end, the highest annual rates were recorded in Belgium (1.4 percent), Malta (1.2 percent) and Austria (1.1 percent). Compared with November 2015 the annual inflation rate fell in nine member states, remained stable in three and rose in fifteen.

The largest upward impacts on the euro area annual inflation came from restaurants & cafés (+0.10 percentage points), tobacco and vegetables (+0.06 percentage points each), while fuels for transport (-0.40 percentage points each), heating oil (-0.19 percentage points) and gas (-0.10 percentage points) had the biggest downward impacts.

The European Central Bank expects prices to rise by an annual rate of less than a 1.8 percent. The inflation in the euro zone has been below this target ever since 2013 and last year it even dropped in the negative territory against the background of plunging oil prices.

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