INS: Annual rate of inflation re-enters positive trend in January; consumption prices increased by 0.1pct

The annual rate of inflation re-entered in the positive trend in the first month of this year, in so far as the consumption prices increased by 0.1pct compared to January 2016, on the background of the price increase for food products by 1.12pct and fall in price for non-food products by 0.24pct, according to the data published on Wednesday by the National Institute of Statistics (INS).

Likewise, in January 2017 the price of services decreased by 1.08pct.

The annual rate of inflation in the last month of the last year was minus 0.5pct compared to December 2015.

“In January 2017, the share of goods and services registering a decrease of prices is of 27.6pct, compared to January 2016, and those which had increases in the range 0 – 2.5pct have a share of 60.6pct. Goods and services the prices of which increased by more than 2.5pct have a share of 11.8pct”, INS specifies.

The average increase of consumption prices in the last 12 months (February 2016 – January 2017) compared to the previous 12 months (February 2015 – January 2015), calculated on the basis of IPC (Consumer price index), is by -1.4pct.

The National Bank of Romania (BNR) estimates an inflation by 0.2pct at the end of March, the uncertainty range by 0.5pct up or down, according to the data of institution.

BNR revised a decrease of the inflation forecast for the end of of this year, by 0.4 percentage points, of 1.7pct.

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