Annual inflation rate drops to 3.5pct in September

The annual inflation rate dropped to 3.5pct in September this year, from 3.9pct in August, when food prices increased by 4.07 pct, the non-food ones by 2.78pct, and the price of services registered an advance of 4.24pct, according to the data published by the National Institute of Statistics (INS) on Friday. 

"Consumer prices in September 2019 compared to September 2018 increased by 3.5pct. The annual rate calculated on the basis of the harmonized index of consumer prices (HICP) is 3.5pct. The average rate of consumer prices in the last 12 months (September 2018 - August 2019) compared to the previous 12 months (October 2018 - September 2019), calculated on the basis of the CPI, is 3.8pct. Determined on the basis of the HICP, the average rate is 3.9pct," reads the INS release. 

The National Bank of Romania (BNR) increased the inflation forecast by 4.2pct by the end of this year and estimates a 3.3pct inflation for 2020.