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Romania’s March CPI +0.5% M-M, Annual Inflation Narrows To 6.71%

Romanian consumer price index rose by a higher-than-expected 0.5% in March compared with the previous month, but the annual inflation fell to 6.71% from 6.89% end-February, the National Statistics Institute reported Friday.
Romania's March CPI +0.5% M-M, Annual Inflation Narrows To 6.71%
10 apr. 2009, 10:06, English

The inflation growth in March is due to a 0.68% monthly increase in non-food prices. Food prices rose 0.39% on the month, while service prices were up 0.33% in March.

Romanian analysts polled by MEDIAFAX saw the monthly inflation dropping from 0.88% in February to 0.2%-0.3% in March, due to a slowing local demand and a stable exchange rate of the Romanian leu.

The harmonized index of consumer prices, or HICP, stood at 7.6% at the end of March.

Romania’s inflation in 2008 ranked at 6.3%, as the depreciation of the leu against the euro by the end of the year counterbalanced the positive effect of price decrease in non-food products, economic analysts said.