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February 8, 2023
ECONOMYFINANCE&BANKING

Annual inflation stands at minus 0.7pct in November, below October’s minus 0.4pct

The annual decrease of prices speeded up, again, in November, after a slight moderation in October, at 0.7pct against November 2015, after standing in October at minus 0.4pct, according to data released on Monday by the National Statistics Institute (INS).

“The consumer prices, measured through the Consumer Price Index (CPI) were smaller by 0.7pct in November 2016 as compared to November 2015. The consumer prices’ annual rate determined based on the Harmonised Index of Consumer Prices (HICP) stood at minus 0.2pct,” says the release.

The share of goods and services that have recorded a diminishing of prices, as compared to November 2015, is of 42.4pct, the ones that have increased 0 through 2.5pct hold a 53.3pct share, while the goods and services whose prices have seen a higher than 2.5pct growth hold a 4.3pct share.

“The average rate of the consumer prices in the last 12 months (December 2015 – November 2016) as against the previous 12 months (December 2014 – November 2015), calculated based on the CPI is minus 1.6pct. Determined based on the HICP, the average rate is minus 1.1pct,” adds the release.

In exchange, the consumer prices have had an irrelevant increase, in November as compared to October 2016, by 0.07pct.

The National Bank of Romania (BNR) has maintained in its most recent Report on Inflation, presented in November, the inflation estimation for this year at minus 0.4pct, and yet it has reviewed on an uptrend the prognosis for 2017, at 2.1pct, from 2pct, as it estimated in August.

 

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