INS: Average monthly inflation rate on 11 months – 0.4 pct

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Average monthly inflation rate over Jan. 1 – Nov. 30, 2009 accounted for 0.4 percent compared to 0.5 percent on 11 months in 2008, according to centralized data of the National Statistics Institute (INS).

Nov. 2009 inflation stood at 0.67 percent from the previous month and compared to Dec. 2008 at 4.41 percent. According to INS data, the annual inflation over Nov. 2008 – Nov. 2009 stood at 4.65 percent. The average price hike per total in the past 12 months (Dec. 2008 – Nov. 2009) from the previous 12 months (Dec. 2007 – Nov. 2008) computed based on the price index /IPC/ and the one established based on the harmonized index /IAPC/ is of 5.7 percent.

Food product prices rose in Nov. by 0.41 percent compared to Oct. 2009 and non-food product prices and services climbed 1.11 percent, respectively by 0.14 percent.
From Nov. 2008 food products rose by 0.56 percent, service tariffs advanced 8.52 percent and non-food product prices climbed 6.63 percent.

Romania’s National Bank (BNR) revised upwards, by 0.2 percentage points, the inflation outlook for 2009, from 4.3 to 4.5 percent, especially on the background of higher tobacco prices, announced BNR Governor Mugur Isarescu, when presenting the quarterly inflation report. As well, the inflation outlook for 2010 was maintained at 2.6 percent. BNR retained its outlook on inflation evolution at the level of 3.5 percent in 2009 and a similar 3.5 percent in 2010.

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