Annual inflation rate climbs up to 5.2 pct in January

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Inflation rate accounted for 1.68 percent in January 2010, compared to 1.2 percent in January 2009, while the annual inflation (January 2010 – January 2009) rose at 5.2 percent, compared to 4.7 percent at the end of last year.

According to data on Friday released by the National Institute of Statistics (INS), non-food prices rose most in January 2010 compared to December 2009, by 3.2 percent, while prices for foodstuffs and services surged by 0.43 percent, 0.36 percent respectively.
Compared to January 2009, price for foodstuffs climbed 0.1 percent, services jumped 3.85 percent and non-food prices went up 10.25 percent.

The Romanian National Bank (BNR) changed upwards inflation forecast for 2010, from 2.6 percent up to 3.5 percent, estimating for 2011 an inflation rate of 2.7 percent, among the reasons that influenced the prognosis being the increase in the excise duty on tobacco.
The contribution to inflation of CPI (consumer prices index) components showed an impact of 6.5 percent on tobacco products, 4.5 percent in fuel, 3.5 percent for vegetables, fruit and eggs and 1.5 percent in administrated prices. Moreover, BNR reconfirmed inflation target of 3 percent proposed for 2011, while for 2010 the target remains at 3.5 percent.

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