Romania among the six EU member states with negative annual inflation in November

The inflation rate in Euro zone and the European Union has climbed in November up to 0.6 percent from 0.5 percent in October, but it was negative in Romania (-0.2 percent), shows the data from the European Office of Statistics (Eurostat).

According to the source, only six member states registered a negative annual inflation rate in November: Bulgaria and Cyprus (-0.8 percent), together with Romania, Ireland, Greece and Slovakia, with an annual inflation of -0.2 percent.

The highest annual inflation rate were in Belgium (1.7 percent), Czech Republic (1.6 percent) and Malta (1.5 percent). Compared with October 2016, the annual inflation dropped in five member states, remained stable in six states in grew in 17 states.

In Euro zone, the most significant impact on the prices growth was produced by restaurants and coffee shops (with a growth by 0.07 percentage points), followed by rents and tobacco (a growth by 0.04 percentage points). On the other hand, the most significant negative impact on the inflation was from natural gases (-0.11 percentage points), heating fuel (-0.05 percentage points) and the touristic packages (-0.04 percentage points).

The data published by the National Institute of Statistics shows that in Romania the consume prices, measured by the index of prices of consume (IPC) were lower by 0.7 percentage in November compared with November 2015. Determined by the harmonized index of prices of consume (IAPC), the annual rate of consume prices was -0.2 percent.

The National Bank of Romania (BNR) maintained the inflation estimation to -0.4 percent in the most recent report on the inflation presented in November, but it revised in growth the forecast for the next year to 2.1 percent from 2 percent, how it was estimated in August.

Georgiana Bendre