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INS: 0.32% inflation in November

Inflation rate stood in November at 0.32% versus October, whereas annual inflation (November 2007- November 2008) fell to 6.74% from 7.39% in October, according to the figures made public on Thursday by the National Statistics Institute /INS/.

In the first 11 months of 2008, the cumulated inflation rate stood at 6.06%, and the monthly average rate stood at 0.5%, the same as in the similar period in 2007.

Compared with October 2008, the prices of food products rose 0.73%, the tariffs for services rose 0.38%, while the prices of non-food products fell 0.05%.

Versus November 2007, the price of food rose by 6.45%, the tariffs for services rose 7.04%, and the prices of non-food products rose 6.87%.

The median rise in prices in the past 12 months (December 2007 - November 2008) versus the previous 12 months (December 2006 - November 2007) established on the basis of the Consumer Price Index and on harmonized index of consumer prices is 7.9%.

According to the data presented recently by BNR governor Mugur Isarescu, Romania will register in 2008 economic growth of 8%, after it reached 8-9% in January September. As to 2009, the economic growth will stand at 3 - 6%.

In the 'Perspectives of World Economy 2009' report, the World Bank forecasts the growth pace of the Romanian economy will slow down next year to 3.2% after a rise of 8.6% in 2008.

The European Commission estimates Romania will record this year better-than-expected economic growth of 8.5%, and this will decline to 4.75% next year.

On the other hand, in the 2008 - 2020 long-term autumn forecast, the National Prognosis Commission estimates economic growth of 9.1% in 2008 and 6% in 2009.

 

Sursa: http://www.rompress.ro

Tags: november growth prices inflation bnr