November 12 (SeeNews) - Romania's consumer prices rose by 3.4% year-on-year in October, compared to an increase of 3.5% in the previous month, the national statistical office, INS, said on Tuesday.
Food prices rose 4.16% year-on-year in October, while non-food prices added 2.57%, INS said in a statement.
Prices of services grew by 4.14% in October.
On a monthly comparison basis, Romania's consumer price index (CPI) rose by 0.43% in October, as food prices were 0.70% higher, non-food prices rose 0.32%, and prices of services edged up by 0.25%.
The average consumer price inflation over the last 12 months was 3.7%, INS said.
On November 8, Romania's central bank said it has decided to lower its 2019 inflation forecast to 3.8% from 4.2% predicted in August, outside its target band of 1.5-3.5%. BNR has also lowered its projection for 2020 inflation to 3.1% from 3.4%.
On November 6, the central bank maintained its monetary policy rate at 2.50%.
The central bank last changed its key rate in May last year, increasing it to 2.50% from 2.25%, the third rate hike in 2018.
(1 euro=4.7627 lei)