Annual rate of inflation drops to 7.8 pct in November

The annual rate of inflation has dropped to 7.8 pct in November 2021, from 7.9 pct in October, given that the prices of non-food items have increased by 10.49 pct, food items by 6.10 pct, and services by 4.09 pct, according to data published on Monday by the National Institute for Statistics (INS).

"The Consumer Price Index [CPI] in November 2021 compared to the month of October 2021 is 100 pct. The rate of inflation since the beginning of the year (November 2021 compared to December 2020) is 7.4 pct. The annual rate of inflation in November 2021 compared to the month of November 2020 is 7.8 pct. The average rate of consumer prices in the past 12 months (December 2020 - November 2021) over the previous 12 months (December 2019 - December 2020) is 4.5 pct," says the INS release.

According to the quoted source, the Harmonized Consumer Price Index in November 2021 compared to October 2021 is 100.26 pct.

The annual rate of CPI inflation is projected at the value of 7.5 pct in December 2021 and is forecast to die down to 5.9 pct by the end of next year, according to the Report on inflation of the National Bank of Romania (BNR).

BNR mentioned that compared to the report in August the new projection is higher by 1.9 percentage points for the end of the current year and by 2.5 percentage points for the end of next year. A large part of these revisions is explained by the increasing contribution of the components of the consumption basked outside the control of monetary policy. AGERPRES