Consumer prices in Romania, measured by the consumer price index (CPI), dropped by 0.7% in November compared to the same month last year.

The annual drop in the prices accelerated again in November, after the inflation amounted to -0.4% in October compared to the same month in 2015, according to the National Statistics Institute (INS).

The goods and services that recorded drops in the prices in November this year compared to the same month in 2015 represented 42.4% of the total basket. The ones that saw increases of up to 2.5% during this period had a share of 53.3% whereas the goods and services whose prices rose by over 2.5% had a share of 4.3%.

Compared to the previous month, consumer prices recorded an insignificant growth of 0.07% in November.

In the most recent report on inflation, the National Romanian Bank (BNR) maintained its estimate on inflation at -0.4% for this year. However, it revised its inflation prognosis from 2% to 2.1% for next year.

editor@romania-insider.com