December 12 (SeeNews) - Romania's annual consumer price inflation accelerated to 3.2% in November, from 2.6% in October, the national statistical office, INS, said on Tuesday.
Food prices rose 3.88% year-on-year in November, while non-food prices were up 4.12%, INS said in a statement.
Prices in the services sector edged up by 0.1% year-on-year in November.
On a monthly comparison basis, Romania's consumer price index (CPI) rose 0.66% in November, as food prices climbed 0.57% month-on-month, non-food prices increased by 0.86% and prices of services rose 0.33%.
Consumer prices rose 0.3% during the 11 months through November.
In its latest inflation report issued in November, Romania's central bank increased its end-2017 inflation forecast to 2.7% and kept the 2018 inflation forecast unchanged at 3.2%.
Romania returned to inflation in January following 19 straight months of deflation that began in June 2015 after a 9% cut in VAT rate was expanded to include all food items, non-alcoholic beverages and food service activities. In addition, Romania cut its standard VAT rate from 24% to 20% at the start of 2016 and then again to 19% starting January 2017.
On November 7, BNR maintained its monetary policy rate at record low 1.75%. BNR also decided to narrow the corridor of interest rates on its standing facilities around the policy rate to ±1.00 percentage points from ±1.25 percentage points
BNR last changed its key rate in May 2015, when it cut it by 25 basis points.
(1 euro=4.6332 lei)