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Potatoes mash Romanian inflation to lowest level in 20 years

Romania’s yearly inflation rate in December 2011, of 3.14 percent, was at the lowest level in the last 20 years, according to the National Statistics Institute. And potatoes played a surprisingly important role with their big drop in price.

The inflation rate was within the target set by Romania’s Central Bank (BNR) of 2 to 4 percent for 2011. In November, the annual inflation rate was of 3.44 percent.
Among foodstuffs, sugar – up 18.65 percent, eggs – 15.37 percent and honey – up 8.39 percent posted the largest price increases in 2011, while the potatoes recorded the largest price decline – down 27.87 percent.

Compared with the previous month, consumer prices increased by 0.23 percent in December 2011, while the food products went up by 0.36 percent, the non-food products – up 0.13 percent, and services tariffs increased by 0.26 percent.

Source: romania-insider.com