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Romania's inflation brakes at 4.5% in February, after the hit of excise taxes in January

The annual rate of inflation lowered to 4.49 percent in February, slightly below analysts expectations, as the national currency's appreciation reduced the impact of more expensive prices for food stuff and nonfood goods, according to data of the country's statistics body INS.

Consumer prices added 0.2 percent in February on the previous month, as tariffs for services idled and prices for food products and nonfood goods advanced 0.24 percent.

The economists polled by NewsIn expected the inflation to park near 4.5 – 5 percent in February, mainly owing to more expensive electricity.

The annual rate of inflation soared to 5.2 percent in January, way above analysts expectations, especially following higher prices for tobacco, electricity and fuels.

In 2010, the consumer basket in Romania, which is used to calculate inflation, features food products with a weight of 37.39 percent, non-food stuff with 44.72 percent and services with 17.89 percent.

Romania's Central Bank (BNR) missed inflation target for the third time in a row in 2009. Thus, it changed the inflation target for the end of the year to 3.5 percent plus or minus one percentage point (2.5 – 4.5 percent), from 2.6 percent as previously estimated.

BNR's governor, Mugur Isarescu, mentioned the annual rate of inflation could decrease at the end of 2010 and at the beginning of 2011 even below the variation margin of the inflation target.

Sursa: http://www.newsin.ro

Tags: inflation percent february bnr

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