Romania’s industrial price inflation soared to 26.8% y/y in October, largely due to the high energy cost, putting pressure on the consumer price inflation that neared 8% y/y in the same month.
Industrial production prices, or factory gate prices, increased by 6.3%m/m in October alone — double the 3.2% m/m advance in September — driven by the energy price that surged by over 20% in the month, data released by the statistics office INS reveal.
Over the past 12 months, industrial prices rose by 26.8% y/y on average while the energy price advanced by nearly 75%.
The shock originating in the energy production sector is visibly propagating across the processing sector towards consumer prices, with the consumer goods only partly touched so far.
The factory gate production prices of non-durable consumer goods increased by only 6.3% y/y, those of durable goods by 11.2% y/y and capital goods were 24.1% more expensive y/y.