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Romania’s Nov CPI + 0.67% MM, Annual Inflation At 4.65%

Romania's consumer price index rose by 67 basis points on the month in November, driven mainly by higher tobacco and fuel prices, while the annual inflation widened to 4.65%, ending an eight-month deceleration period, the National Statistics Institute said Friday.
Romania's Nov CPI + 0.67% MM, Annual Inflation At 4.65%
11 dec. 2009, 10:36, English

Non-food prices in November increased by 1.1% on the month, while food and service prices were up 0.4% and 0.1%, respectively.

Cigarettes and tobacco prices rose 5.48% on the month in November, the highest increase in the non-food sector, while fuel prices increased by 1.66%.

In the food sector, eggs and fresh and canned vegetables recorded the biggest price increases, of 7.46% and 1.87% on the month, respectively.

The harmonized index of consumer prices, or HICP, stood at 5.7% at the end of November, from 5.9% the month before.

In October, Romanian CPI rose 0.44% on the month, on higher non-food and service prices, but the annual inflation narrowed to 4.3%.

Romanian central bank targets an annual inflation of 3.5% at the end of December, with one percentage variation band around the target. A similar objective was set for 2010.

The bank has recently revised its forecast on the 2009 inflation rate to 4.5% from 4.3% previously envisaged.