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Consumer prices drop by 0.2 in November; annual inflation down to 1.26 pct
Consumer prices have dropped by 0.2 percent in November when compared to the previous month given the price decrease by 0.3 percent for food and non-food products and the 0.2 percent increase in the prices of services.
According to data of the National Statistics Institute, the annual inflation (November 2013 — November 2014) has dropped, in November, to 1.26 percent, from the 1.44 point recorded in October.
"The Harmonised Indices of Consumer Prices (HICP) in November 2014, when compared to the previous month, is of 99.80 percent, and when compared to the same month of last year it reaches 101.55 percent.
The median increase of prices in the past twelve months (December 2013 — November 2014) when compared to the previous 12-month period (December 2012 — November 2013), determined on the basis of the CPI [Consumer Price Index] is of 1.1 percent, and that determined on the basis of the HICP is of 1.4 percent", the INS release shows.
When compared to the end of last year, food products have cheapened by 0.65 percent, non-food items' prices increased by 1.77 percent, services, too, increasing in price by 1.99 percent.
Compared to November 2013, the price of food products are, on average, lower by 0.03 percent, non-food products are more expensive, by 1.93 percent, and services are also more expensive, by 2.19 percent.
For the end of this year, the National Bank of Romania predicts the inflation to grow to 1.5 percent, and for it to reach the end of 2015 the 2.2 percent mark.