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Romania’s Nov Inflation +0.32% M-M, Annual CPI Slows To 6.7%

Romania’s inflation rose 0.32% on the month in November, due to higher prices for food and services, but the annual inflation slowed to 6.7%, from 7.39% in October, the National Statistics Institute, or INS, reported Thursday.
Romania’s Nov Inflation +0.32% M-M, Annual CPI Slows To 6.7%
11 dec. 2008, 10:22, English

In November, prices for food products were up 0.73% on the month, while services saw their prices up 0.38% on the month. Non-food products saw a 0.05% decrease of their prices.

Of food products, prices for eggs jumped 13.1%, while prices for beans and other vegetables were up 3.46% on the month. Prices for cow milk picked up 3.33% on the month.

In the services sector, prices for auto subscriptions increase by 0.62%, while the healthcare services saw a 0.61% increase in prices.

Fuel prices dropped 3.3% on the month in November, while the price of thermal power increased by 7.52%, in the non-food products category.

In the January-November period, inflation picked up 6.06%, already exceeding the target set by the central bank at the beginning of the year of 2.8%-4.8%.

The harmonized index of consumer prices, or HICP, stood at 7.9% at the end of November.

Romania’s central bank has recently revised its inflation projection for the end of this year to 6.7%, from 6.6%.