Annual inflation rate fell to 3.5 percent in September

The annual inflation rate fell to 3.5 percent in September this year, from 3.9 percent in August, when food commodities rose by 4.07 percent, non-food goods by 2.78 percent, and the price of services registered an advance of 4.24 percent, according to data published Friday by the National Institute of Statistics (INS).

Consumer prices in September 2019 compared to September 2018 increased by 3.5 percent. The annual rate calculated on the basis of the harmonized index of consumer prices (HICP) is 3.5 percent. 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 3.8 percent. Determined on the basis of the HICP, the average rate is 3.9 percent.

The National Bank of Romania (NBR) increased the inflation forecast by 4.2 percent by the end of this year and estimates an inflation of 3.3 percent for 2020.