Consumer price index goes up by 0.56 in September, inflation hits two-year high

The Consumer Price Index (CPI) went up by 0.56 in September against the previous month bringing the annual inflation rate to a new record level of 7.77 percent, according to data released on Monday by the National Statistics Institute (INS).

In the first three quarters of the year prices of alimentary goods went up by 3.87 percent, those for non-alimentary goods by 8.44 percent and prices of services increased  by 5.47 percent.

Following the Government’s decision to hike the VAT to 24 percent this July, the National Bank of Romania revised its estimations for the annual inflation from an innitial 3.7 percent to 7.8 percent for 2010.

Simona Bazavan

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