Romania‘s consumer prices rose 16.76% y/y in November, compared to an increase of 15.32% in October, the national statistical office, INS said on Tuesday, according to See News.
Food prices rose by an annual 21.55%, while non-food prices saw a 16.17% increase, INS said in a statement.
Prices of services grew by 9.51%. On a monthly comparison basis, Romania’s consumer price index (CPI) rose 1.25% in November, as food prices were 1.54% higher, non-food prices grew by 1.03% and prices of services were 1.31% higher.
The average consumer price inflation was 13.1% over the last 12 months, compared to the previous year.
On November 14, Romania’s central bank raised its inflation forecast for 2022 to 16.3% from 13.9% projected in August, way above the upper end of its target band of 1.5-3.5%, due to supply side risks amplified by the war in Ukraine.
On November 8, the BNR said it decided to increase its monetary policy rate to 6.75% from 6.25%, aiming to anchor inflation expectations over the medium term, as well as to foster saving through higher bank rates.
