Annual inflation rate, down to 2.1% in November

The annual inflation rate fell to 2.1% in November this year, from 2.2% in October, given that food prices rose by 3.81%, services by 2.77%, and non-food goods by 0.78%, according to data the National Institute of Statistics (INS) published on Friday. "Consumer prices in November 2020 compared to November 2019 increased by 2.1%. The annual rate calculated on the basis of the harmonized index of consumer prices (HICP) is 1.7%. The average rate of consumer prices in the last 12 months (December 2019 - November 2020) compared to the previous 12 months (December 2018 - November 2019), calculated on the basis of the CPI, is 2.8%. Determined on the basis of the HICP, the average rate is 2.5%," the INS release reads. The National Bank of Romania (BNR) estimates inflation at 2.1% at the end of this year, down 0.6 percentage points from the previous forecast, and 2% in the third quarter of 2022, according to the Inflation Report. AGERPRES (RO - author: George Banciulea, editor: Oana Tilica; EN - author: Bogdan Gabaroi; editor: Adina Panaitescu)