The annual inflation rate rose to 5.11% in November 2024, up from 4.67% in October, as food prices increased by 5.11%, non-food goods prices by 5.15%, and services prices by 7.56%, according to data National Institute of Statistics (INS) published on Wednesday.

„The consumer price index in November 2024 compared to October 2024 was 100.41%. The inflation rate from the beginning of the year (November 2024 compared to December 2023) was 4.8%. The annual inflation rate in November 2024 compared to November 2023 accounted for 5.1%. The average change in consumer prices over the last 12 months (December 2023 – November 2024) compared to the previous 12 months (December 2022 – November 2023) stood at 5.7%,” the INS press release shows.

According to the quoted source, the harmonised index of consumer prices in November 2024 compared to October 2024 was 100.32%. The annual inflation rate in November 2024 compared to November 2023, calculated based on the harmonised index of consumer prices (HICP), was 5.4%. The average change in consumer prices over the last 12 months (December 2023 – November 2024) compared to the previous 12 months (December 2022 – November 2023) calculated based on the HICP was 6%.

The National Bank of Romania (BNR) revised its inflation forecast for the end of 2024 upwards, to 4.9%, from the previous forecast of 4%, and anticipates that it will reach 3.5% by the end of 2025, according to data presented in November by BNR Governor Mugur Isarescu.

AGERPRES