Annual inflation rate increased to 7.7% 

The annual inflation rate increased in September to 7.7% due to the increase of prices for non-food goods and tabacco, the National Statistics Institute data reads. The price of food prices increased, on average by 3.87% since the begining of the year. In the last report published this week, the IMF estimates for Romania an annual inflation rate of 7.9% for December 2010.

The expectations of all macro-economists at the National Central Bank were exceeded regarding food prices that increased beyond expectations. The increasing prices of food and non food products is not happening only in Romania but across the world, World Bank President Robert Zoellick declared.