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Romania Sept Inflation +0.4% MM, Annual CPI Slows To 7.3%

Romania's consumer price index grew by 0.4% on the month in September, mainly driven by an increase in prices for services, but annual inflation slowed to 7.3%, due to a favorable base effect, the National Statistics Institute said Friday.
Romania Sept Inflation +0.4% MM, Annual CPI Slows To 7.3%
10 oct. 2008, 10:04, English

Prices for services were up 1.05% following a 1.67% rise in telephony prices and a 1.73% increase in urban transportation prices.

Food prices rose by 0.33%, boosted by a 1.09% increase in milk and cheese prices. Prices for potatoes were up 2.36% on the month in September.

Non-food products saw their prices up only 0.19% on the month in September, despite a 1.79% increase in prices for cars and car parts.

In September, inflation fell from 8.02% in August and authorities expect it to be at around 6% at the end of the year.

Since the beginning of the year, inflation has picked up 4.61%.

The central bank expects inflation to reach 6.6% at the end of this year and 4.2% at the end of 2009, compared with a target of 2.8%-4.8% and 2.5%-4.5% for 2008 and the following year, respectively.