Annual inflation rate up 7.9pct in October

The annual inflation rate rose to 7.9% in October 2021, from 6.3% in September, with prices for non-food goods rising by 11.39%, food goods prices increasing by 5.25%, and those of services by 3.96%, according to data published on Wednesday by the National Institute of Statistics (INS).

"Consumer prices in October 2021 compared to September 2021, increased by 1.8%. The inflation rate at the beginning of the year (October 2021 compared to December 2020) is 7.4%. The annual inflation rate in October 2021 compared October 2020 is 7.9%. The average rate of consumer prices in the last 12 months (November 2020 - October 2021) compared to the previous 12 months (November 2019 - October 2020) is 4.1%," reads the same press release, agerpres reports.

According to the INS, the harmonized index of consumer prices in October 2021 compared to September 2021 is 101.32%. The annual inflation rate in October 2021 compared to October 2020 calculated based on the harmonized index of consumer prices (HICP) is 6.5%.

The average rate of consumer prices in the past 12 months (November 2020 - October 2021) compared to the previous 12 months (November 2019 - October 2020) determined based on the HICP is 3.3%.

The National Bank of Romania (BNR) increased its inflation forecast to 5.6% for the end of this year, according to a presentation made in August by the governor of the National Bank of Romania, Mugur Isarescu.