The annual inflation rate was at 15.32% in October, a slight drop from 15.88% in September, but consumer prices continue to rise and are expected to continue doing so until the end of the year.
In October, prices were 1.3% higher than in the previous month. The central bank expects to see inflation continue to increase until the end of the current year and then start a slowly descending trend. A single-digit rate is expected only in the first half of 2024, though.
Prices were more than 14% higher in October, compared with the same month of 2021, with the highest increases seen in food products, data from the statistics institute INS showed. Food prices were 20.6% higher compared with October 2021, while the prices of non-food products increased by 14.4%, the statistics data read. The price of services was 8.3% higher on average in October, compared with the same month last year.
The price of natural gas was almost 41% higher than in October 2021, while electricity was 27% more expensive, considering prices for household consumers are still capped under a government-supported scheme. Among the food products, the highest increases were observed for edible oil and potatoes, both of which were over 40% more expensive than in October 2021.
(Bogdan Neagu | EURACTIV.ro)
Source: euractiv.com
