Headline inflation during January-September (12.10.2005)
Headline inflation increased by 5.8% during January-September
In September, the inflation rate increased by 0.6% m/m, while the cumulated consumer price variation advanced by 5.8% in the first nine months of 2005, according to the preliminary data released by NIS (National Institute for Statistics).
The monthly inflation was pretty high as compared to the 0.1% in August 2005, however the annual rate eased to 8.5% vs. September 2004. A record for the post-communist period, the decrease of the annual inflation was determined mainly by the substantial drop in the consumer price index in August.
During January-September 2005, the average inflation stood at 0.6%, dropping by one percentage point from the average values recorded for the same period in 2004. Speaking of the three main categories of goods, the food items had a major contribution to the disinflation, as the cumulated CPI climbed only by 2.1%. The hike of the inflation rate was determined mainly by the service sector, which advanced by 1.2% m/m and by 9.1% since December 2004. Even food goods were unable to offset the rise, as NBR expected, with prices moving upwards by 0.2%, due to recent the floods.
The highest growth in the edible goods was registered by potatoes (6.4%), cheese (1.6%) and vegetables (1%). The monthly inflation of the non-food items soared by 0.7%, mainly driven by the 3.3% increase in fuels' prices that determined a 3.1% m/m advance in transportation prices (railway, road and airway).
Melania Hancila
Research Analyst Treasury Division
Finansbank (Romania) S.A.
Phone : +40 21 301 73 42
Fax : +40 21 318 09 61
In September, the inflation rate increased by 0.6% m/m, while the cumulated consumer price variation advanced by 5.8% in the first nine months of 2005, according to the preliminary data released by NIS (National Institute for Statistics).
The monthly inflation was pretty high as compared to the 0.1% in August 2005, however the annual rate eased to 8.5% vs. September 2004. A record for the post-communist period, the decrease of the annual inflation was determined mainly by the substantial drop in the consumer price index in August.
During January-September 2005, the average inflation stood at 0.6%, dropping by one percentage point from the average values recorded for the same period in 2004. Speaking of the three main categories of goods, the food items had a major contribution to the disinflation, as the cumulated CPI climbed only by 2.1%. The hike of the inflation rate was determined mainly by the service sector, which advanced by 1.2% m/m and by 9.1% since December 2004. Even food goods were unable to offset the rise, as NBR expected, with prices moving upwards by 0.2%, due to recent the floods.
The highest growth in the edible goods was registered by potatoes (6.4%), cheese (1.6%) and vegetables (1%). The monthly inflation of the non-food items soared by 0.7%, mainly driven by the 3.3% increase in fuels' prices that determined a 3.1% m/m advance in transportation prices (railway, road and airway).
Melania Hancila
Research Analyst Treasury Division
Finansbank (Romania) S.A.
Phone : +40 21 301 73 42
Fax : +40 21 318 09 61
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