In March, inflation rate was 0.5 percent as against February, and the annualized inflation (March 2008 – March 2009) – 6.71 percent.
According to INS, the average monthly inflation rate over Jan. 1 – April 30, 2009 stood at 0.7 percent, similar to the same period in 2008.
Compared to March 2009, food prices advanced 0.03 percent, non-food products climbed 0.81 percent, whereas service tariffs were cut by 0.45 percent. Compared to April 2008 food products climbed 4.62 percent, service tariffs surged 8.84 percent and non-food products prices were up 7.06 percent.
The overall average price increase on the latest 12 months (May 2008 – April 2009) compared to the previous 12 months (May 2007 – April 2008) determined on the Consumer Price Index (CPI) and on the Harmonized Consumer Price Index (HCPI) is of 7.4 percent.
Romania’s National Bank (BNR) revised downward by 0.1 percentage points the inflation outlook for 2009, from 4.5 percent as reported in February 2009 to 4.4 percent, BNR Governor Mugur Isarescu recently announced.
For 2009, BNR revised downward the basic inflation evolution CORE2, from 2.4 to 1.4 percent, but revised upward the other components. Inflation targets for 2009 and 2010 remained 3.5 percent, plus/minus one percentage point.