RECORD INFLATION LEVEL IN OCTOBER: 7.9% COMPARED TO THE SAME MONTH IN 2020

By Emea Riga
The annual inflation rate rose to 7.9% in October 2021, from 6.3% in September. An absolute record in the last five years. The largest increases in prices were recorded for non-food goods, which rose by 11.39%, food goods by 5.25%, and services by 3.96%, according to data released Wednesday by the National Institute of Statistics (INS).
“Consumer prices in October 2021 compared to September 2021 increased by 1.8%. The inflation rate at the beginning of the year (October 2021 compared to December 2020) is 7.4%. The annual inflation rate in October 2021 compared to October 2020 is 7.9%. The average rate of consumer prices in the last 12 months (November 2020 – October 2021) compared to the previous 12 months (November 2019 – October 2020) is 4.1%, “the statement said. INS.
According to the INS, the harmonized index of consumer prices in October 2021 compared to September 2021 is 101.32%. The annual inflation rate in October 2021 compared to October 2020 calculated on the basis of the harmonized index of consumer prices (HICP) is 6.5%.
The average rate of consumer prices in the last 12 months (November 2020 – October 2021) compared to the previous 12 months (November 2019 – October 2020) determined on the basis of the HICP is 3.3%.
The National Bank of Romania increased its inflation forecast to 5.6% by the end of this year.