Annual inflation rate went down to minus 0.6 percent in September

 The annual inflation rate went down to minus 0.6 percent in September this year compared to the similar month of 2015, from minus 0.2 percent in August, according to the data the National Institute of Statistics (INS) released on Tuesday. 

The share of goods and services that recorded a price decline as against September 2015 stands at 40.6 percent, those with price increases between 0 and 2.5 percent hold a 50.4 percent share, while the goods and services with price advances over 2.5 percent hold a 9 percent share. 

"Consumer prices, measured through the Consumer Price Index (CPI), were 0.6 percent lower in September 2016, compared with September 2015. Based on the Harmonised Index of Consumer Prices (HICP), the annual rate of consumer prices stood at minus 0.1 percent," the INS release mentions. 

The average rate of consumer prices over the past 12 months (October 2015 - September 2016) as against the previous 12 months (October 2014 - September 2015), calculated based on the CPI, is minus 1.7 percent. Determined based on the HICP, the average rate accounts for minus 1.3 percent. 

Compared with August this year, the consumer prices went down 0.11 percent, on the grounds of price declines in foodstuffs (0.58 percent) and services (0.01 percent). On the other hand, non-food goods witnessed a 0.21 percent price increase in the aforementioned period. 

National Bank of Romania (BNR) Governor Mugur Isarescu showed at the end of September this year that inflation will remain negative this year, however it will come back to the variation interval of the stationary target in the second half of 2017. 

The National Bank of Romania forecasts a minus 0.4 percent inflation for the end of this year.

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