Business News
Romanian inflation hits 8 per cent in March
Apr 11, 2011, 13:10 GMT
Bucharest - Romania's inflation rate hit a 31-month high of 8.01 per cent in March, compared to the same period a year ago, the Institute of Statistics (INS) reported Monday.
Month-on-month, March inflation was 0.6 per cent higher than in February.
The year-on-year figure is the highest since August 2008, the INS said. The rate had been forecast at 7.8 per cent.
Inflation was mostly fueled by food prices, which rose by 1.2 per cent in March. The price of fresh fruit and vegetables rose sharply, by 4.5 per cent and 5.3 per cent, respectively.
The Romanian central bank had originally targeted the 2011 annual inflation rate at 3 per cent, plus or minus 1 per cent, but has recently revised it to 3.6 per cent.
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