Romania’s yearly inflation rate in December 2011, of 3.14 percent, was at the lowest level in the last 20 years, according to the National Statistics Institute. And potatoes played a surprisingly important role with their big drop in price.

The inflation rate was within the target set by Romania’s Central Bank (BNR) of 2 to 4 percent for 2011. In November, the annual inflation rate was of 3.44 percent.

Among foodstuffs, sugar – up 18.65 percent, eggs - 15.37 percent and honey – up 8.39 percent posted the largest price increases in 2011, while the potatoes recorded the largest price decline – down 27.87 percent.

Compared with the previous month, consumer prices increased by 0.23 percent in December 2011, while the food products went up by 0.36 percent, the non-food products – up 0.13 percent, and services tariffs increased by 0.26 percent.

Irina Popescu, irina.popescu@romania-insider.com

(photo source: Sxc.hu)