Annual inflation rate drops to 3.05 pct in February

The annual rate of inflation dropped to 3.05 pct in February this year, from 3.6 in January, while food products saw prices increase by 4.9 pct, services by 3.84 pct, and non-food products by 2.04 pct, according to data published on Wednesday by the National Institute of Statistics (INS).

Consumption prices for February 2020 compared to January rose by 0.25 pct and over December 2019 rose by 0.66 pct.

According to the INS, the annual rate calculated on the basis of the harmonized indices of consumer prices (HIPC) is 2.8 pct.

The average rate of consumption prices in the past 12 months (March 2019 - February 2020) over the previous 12 months (March 2018 - February 2019), calculated on the basis of the consumer price index (CPI), is 3.8 pct. Determined on the basis of the HIPC, the average rate is 3.9 pct.

The National Bank of Romania reduced the inflation prognosis for 2020 to 3 pct, from 3.1 pct, the value of the previous estimate.

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