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IN MARCH 2017, THE ANNUAL RATE OF PRICES WAS 0.2%

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  • Consumer prices were up 0.2% in March 2017 compared to March 2016.

  • In March 2017, the weight of the goods and services for which a price fall was observed compared to March 2016 was  19.4%;  the  goods  and  services  whose  prices  increased  within  a  range  of  0?2.5%  had  a  weight  of  65.8%. The goods and services whose prices grew by more than 2.5% had a weight of 14.8%.

  • The average rate of consumer prices based on the CPI over the last 12 months (April 2016?March 2017) as compared to the previous 12 months (April 2015?March 2016) was ?0.9%. The average rate based on the HICP was ?0.5%.

Consumer prices rose by 0.2 pct in March 2017 as compared to March 2016, a level similar to the one in February, due to 1.67 pct higher prices of food products, 0.25 pct cheaper non-food goods and 1.39 pct cheaper services, according to the National Institute of Statistics (INS) published on Tuesday. 

"In March 2017, there was a 19.4 pct share of goods and services that recorded a drop in prices, as compared with March 2016, those with increases in the range of 0 - 2.5 pct hold a share of 65, 8 pct. The goods and services whose prices rose more than 2.5 pct hold a share of 14.8 pct," specifies INS. 

The average consumer prices in the last 12 months (April 2016 - March 2017) compared to the previous 12 months (April 2015 - March 2016), calculated based on the Consumer Price Index (CPI), is -0.9 pct. Determined based on the harmonised index of consumer prices (HICP), the average rate is 0.5 pct.
The National Bank of Romania (BNR) revised downwards the inflation forecast for the end of this year by 0.4 percentage points, to 1.7 pct.

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