Inflation accelerated from 3.45% a month earlier, when it fell to the lowest level in over two decades, the country’s statistics institute INS said Thursday.
Romanian central bank Monday estimated consumer prices would increase by 0.5%-0.7% in October and November, largely driven by higher tariffs for electricity prices. The prediction came even as the bank has cut its forecast on the year-end inflation to 3.3%, from 4.6% previously.
The country’s consumer price index rose 0.64% in October, after a decline of 0.2% the month before. Food and service prices increased 0.8% on the month, while non-food prices were up 0.5%, INS data showed.
Romanians paid by 4.9% more for fresh and canned vegetables in October compared with a month earlier, while the cost of fresh and canned fruit advanced 3.1%.
In the non-food sector, energy prices rose 1.4% on the month, fueled by a 10.5% increase in thermal energy costs. Additionally, Romanians paid by 1.56% more for water and sewage services in October, the data showed.
Romania’s harmonized index of consumer prices, or HICP, fell to 6.6% at the end of October, from 6.9% the month before.
The central bank targets an annual inflation of 3% at the end of 2011, plus/minus one percentage point around the band.