Romania’s February Inflation At 7.6%, Above Estimates

In January, the annual inflation had eased to 6.99% from a record high of 7.96% in the previous month.

Analysts estimated a monthly inflation of 0.5% in February, while the annual rate was predicted at 7.3%.

Food prices increased 1.8% on the month in February, while non-food prices were up 0.3%, the data showed. Prices in the services sector remained unchanged compared with the previous month.

Romanians paid by around 8% more for fresh and canned vegetables in February compared with a month earlier, while the cost of bread and bakery products increased by 2%. In the non-food sector, cigarettes and tobacco prices went up by 1.4% on the month, the data showed.

Romania's harmonized index of consumer prices, or HICP, rose to 6.5% at the end of February, from 6.2% the month before.

The central bank targets an annual inflation of 3% at the end of 2011, plus/minus one percentage point around the band. The bank has recently revised upward its forecast on the annual rate to 3.6% in December, from 3.4% previously.

If you liked this story, please follow MEDIAFAX.RO on FACEBOOK »

The content of mediafax.ro is for your information only. Republishing or using this content is forbidden without express consent of MEDIAFAX. For this consent, please ask for it by mail at vanzari@mediafax.ro.