Food prices increased 0.3% on the month in January, while non-food and services prices each rose by 0.4%, the statistics institute INS said.

Romanians paid by 1% more for fresh and canned vegetables in January compared with a month earlier, while fuel and tobacco prices increased by 1.16% and 0.9% on the month, respectively.

Romania’s harmonized index of consumer prices, or HICP, fell to 5.5% at the end of January, from 5.8% the month before.

The central bank targets an annual inflation of 3% at the end of 2012, plus/minus one percentage point around the band. The bank last week revised upward its year-end forecast to 3.2% from 3%, citing a less favorable base effect than previously estimated.