The annual inflation in Romania reached -1.1% in November, up from -1.6% in October, according to the National Statistics Institute (INS).

Consumer prices dropped by 1.1% in November this year compared to November 2014, mainly because of the VAT rate cut on food from 24% to 9% starting June this year.

Food prices went down by 6.2% in the past 12 months. However, non-food goods increased their prices by 1.54% while services got more expensive by 2.26%.

The consumer price index went up by 0.31% in November compared to October, mostly driven by non-food items (+0.5%) and services (+0.31%).

editor@romania-insider.com