site.btaRomania's Inflation Eases to 6.72% in November Y/Y

In November Romania's inflation eased to 6.72% year-on-year from 8.07% in October, hitting its lowest rate since September 2021, the National Institute of Statistics said on Wednesday. Prices increased for food (6.84% vs 8.66% in October), non-food products (5.08% vs 6.24%) and services (11.18% vs 12.2%).

The biggest price increases were for beer (16.17%), sheep's cheese (11.37%), pork (12.49%), fish (16%), potatoes (9.52%) and bakery products (9%). For the second time in the past year the highest increase was registered for water (20.45%), followed by postal services (16.17%), medical services (15.86%), books, newspapers and magazines (13.43%) and detergents (23.58%). 

The National Bank of Romania's forecast for 7.5% annual inflation in 2023 still stands. Annual inflation is expected to rise to 7.7% at the end of the first quarter of 2024.