Annual inflation in Romania fell to 2.2 percent in October 2020, from 2.5 percent in September, as food prices rose by 4.34 percent, services prices by 2.85 percent, and prices for non-food items advanced 0.60 percent, according to data published on Wednesday by the National Institute of Statistics (INS).

“Consumer prices in October 2020, as against October 2019, increased by 2.2 percent. The annual rate calculated on the basis of the harmonised index of consumer prices (HICP) is 1.8 percent. The average rate of consumer prices in the last 12 months (November 2019 – October 2020) as against the previous 12 months (November 2018 – October 2019), calculated on the basis of the consumer price index (CPI), is 2.9 percent. Computed against HICP, the average rate is 2.7 percent,” according to INS.

The annual CPI inflation rate for end-2020 and end-2021 is forecast at 2.7 percent and 2.5 percent, respectively, according to the Inflation Report published by the National Bank of Romania.