Romanias headline inflation eases to 5% y/y in October.

By bne IntelliNews November 13, 2012
Romania's consumer price inflation eased to 5% y/y in October after peaking to 5.3% y/y in September, the statistics office reported. CORE2 inflation was 3.2% y/y in September. The average consumer prices in the 12 months ending October were 3.1% up y/y, accelerating from 3% y/y growth registered last month. Consumer prices increased by only 0.29% on the month in October, as prices of vegetables turned to a 4.7% decline, correcting for the excessive 9.9% advance in September. Food prices saw a smaller advance in October (less than 0.1% m/m), while prices of services advanced by nearly 0.9% on the month. Food prices contributed more substantially to inflation on an annual basis as they increased by 5.2% y/y - compared to 3.7% y/y rise in non-food prices and 4% y/y rise in services prices. Romania's central bank raised the year-end inflation projections by 1.9pps to 5.1% y/y for 2012 and by 0.5pps to 3.5% y/y for 2013, according to its Quarterly Inflation Report released on Nov 7. The central bank targets annual inflation of 3% at end-2012 and 2.5% at end-2013 - therefore the projected inflation will remain outside the +/-1pps band this year but will enter the band at the end of next year.

Romanias headline inflation eases to 5% y/y in October.

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