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Annual inflation continues on a rising trend in Feb.; consumer prices up 0.2pct

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Y-o-y inflation continued on a rising trend this February in Romania, with consumer prices up 0.2 percent from the same month in 2016, on a 1.43-percent increase in food prices, according to data released on Friday the National Institute of Statistics (INS).

"Compared with February 2016, consumer prices in February 2017 were up 0.2 percent. The weight of goods and services which prices went down from February 2016 is 24.4 percent, while the ones which prices went up by 0 to 2.5 percent made up 57 percent of the total. Goods and services which prices increased by more than 2.5 percent make up 18.6 percent," INS says in a press statement.

The average increase in consumer pieces over the past 12 months — March 2016 — February 2017 against the previous 12 months — March 2015 — February 2016 computed against the consumer price index-1.1 percent. Against the harmonised consumer price index, the average rate was—0.7 percent.

The February inflation figures include the effect of repealing some rates and taxes, including the radio-TV licence fees and some fees for the issuing of passports.

The National Bank of Romania is expecting a 0.2-percent inflation rate in late March, plus/minus 0.5 percent, according to data released by the bank.

BNR has downwardly adjusted by 0.4 percentage points to 1.7 percent its inflation projection for late 2017.



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