The annual inflation rate increased to 4.67% in October 2024, from 4.62% in September, with food prices rising by 4.75%, non-food products by 3.45%, and service prices by 7.66%, according to data the National Institute of Statistics (INS) published on Tuesday, informs Agerpres.
"The Consumer Price Index in October 2024 compared to September 2024 was 100.62%. The inflation rate since the beginning of the year (October 2024 compared to December 2023) amounted to 4.4%. The annual inflation rate in October 2024 compared to October 2023 accounted for 4.7%. The average rate of change in consumer prices over the last 12 months (November 2023 - October 2024) compared to the previous 12 months (November 2022 - October 2023) was 5.8%," the INS report points out.
According to the INS, the Harmonised Index of Consumer Prices in October 2024 compared to September 2024 was 100.71%. The annual inflation rate in October 2024 compared to October 2023, based on the Harmonised Index of Consumer Prices (HICP), stood at 5%. The average rate of change in consumer prices over the last 12 months (November 2023 - October 2024) compared to the previous 12 months (November 2022 - October 2023), calculated based on the HICP, was 6.1%.
The National Bank of Romania (BNR) revised its inflation forecast for the end of 2024 upwards to 4.9%, from the previous 4%, and expects it to reach 3.5% by the end of 2025, according to data BNR Governor Mugur Isarescu presented on Monday.
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