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Romania's inflation speeds up to 4% y/y in December

Romania's inflation speeds up to 4% y/y in December source: SeeNews

BUCHAREST (Romania), January 14 (SeeNews) - Romania's consumer prices rose by 4.04% year-on-year in December, compared to an increase of 3.77% in the previous month, the national statistical office, INS, said on Tuesday.

Food prices rose 5.08% year-on-year in December, while non-food prices added 3.31%, INS said in a statement.

Prices of services grew by 4.16% in December.

On a monthly comparison basis, Romania's consumer price index (CPI) rose by 0.42% in December, as food prices were 0.84% higher, non-food prices rose 0.28%, and prices of services edged up by 0.12%.

The average consumer price inflation over the last 12 months was 3.8%, INS said.

On November 8, Romania's central bank said it has decided to lower its 2019 inflation forecast to 3.8% from 4.2% predicted in August, outside its target band of 1.5-3.5%. BNR has also lowered its projection for 2020 inflation to 3.1% from 3.4%.

On January 8, the central bank maintained its monetary policy rate at 2.50%.

The central bank last changed its key rate in May 2018, increasing it to 2.50% from 2.25%.

(1 euro=4.7791 lei)