Romania’s consumer prices continued to grow in November, while the inflation rate reached a new record high of 16.8% – the highest in the past 20 years.
In November alone, prices grew by 1.3%, with the highest increase noted in the case of food prices – a plus of more than 1.5%.
Thus, the annual inflation rate, which measures the increase in consumer prices over the previous 12 months, reached 16.8% in November, considerably higher than 15.3% in the last month.
Food prices grew by 21.5% over the 12-month period that ended in November, while prices of non-food products increased by 16.2%, and services were 9.5% more expensive compared with November 2021.
Among food products, the highest price increases were observed for sugar (62% more expensive than in November 2021), butter (43%) and edible oil (41%).
Meanwhile, energy prices rose by 47%, while natural gas prices increased by 38% compared to November last year, considering that both electrical power and gas prices are capped for certain categories of consumers.
By the end of the year, the annual inflation rate is expected to reach 16.3%, though it is expected to slowly drop to 11.2% for next year, according to central bank estimates.
(Bogdan Neagu | EURACTIV.ro)
Source: euractiv.com
