The bank targeted an annual inflation inside the 2%-4% range. However, the rate was slightly below official forecasts of 5.1% at the end of December.
Food prices increased 0.7% on the month in December, while prices in the non-food sector advanced 0.9%, largely due to a 7.25% increase in electric energy tariffs following the introduction of an additional bill charge for household consumers.
“The higher prices in the non-food sector were prompted by the introduction in the electric bill of the value of green certificates as per Law 134/2012 promoting renewable energy production,” the country’s statistics institute INS said in a statement Friday. Compared with December 2011, electricity prices rose 13.02% in the last month of 2012, INS data showed.
Romanians paid by 6.2% more for food items in December compared with the same month of 2011, while non-food and services prices increased by 4.5% and 3.6% on the year, respectively.
Romania’s harmonized index of consumer prices, or HICP, inched up to 3.4% at the end of December, from 3.3% the month before.
The central bank targets an annual inflation of 2.5% at the end of 2013, plus/minus one percentage point around the band.