ECONOMY FINANCE&BANKING

Annual inflation stands at minus 0.4pct in October, increasing from minus 0.6pct registered in September

The annual decline in prices mildly slowed down in October 2016, to 0.4 percent compared to October 2015, after which in September inflation stood at minus 0.6 percent, according to the data the National Institute of Statistics (INS) released on Friday.

“Consumer prices, measured through the consumer price index (CPI), were 0.4 percent lower in October 2016 compared to October 2015. Determined based on the harmonised index of consumer prices (HICP), the annual rate of consumer prices stood at +0.1 percent,” the release mentions.

The share of goods and services which registered a price decline compared with October 2015 stands at 39.6 percent, the ones that recorded increases within the 0 – 2.5 percent interval hold a 49.4 percent share, while the goods and services the prices of which increased more than 2.5 percent hold an 11 percent share.

“The average rate of the consumer prices over the past 12 months (November 2015 – October 2016) compared to the previous 12 months (November 2014 – October 2015), calculated based on the CPI, is minus 1.6 percent. Determined based on the HICP, the average rate stands at minus 1.2 percent,” the release also mentions.

Moreover, the consumer prices went up in October from the previous month by 0.43 percent on average.

The National Bank of Romania (BNR) maintains its inflation estimation for this year at minus 0.4 percent, however it revises upwards the prognosis for next year, to 2.1 percent, from 2 percent as estimated in August, according to the quarterly report on inflation presented by BNR Governor Mugur Isarescu on Thursday.

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