Romania has the lowest inflation rate since October 2017, the Minister of Public Finance, Florin Cîţu, said on Monday, referring to data presented by the National Institute of Statistics.

“September is also lower. It is the lowest inflation rate since October 2017 and until today. The inflation rate has decreased every month in the PNL government. So we now have the lowest inflation rate from October 2017 until today, and this is contrary to all the alarmist messages coming from PSD, the explosion of prices, the shortage of market goods. There are also goods on the market and their price is falling. Moreover, in September the prices of foods decreased compared to August, as well as for non-foods, which means that the index or the inflation rate decreased compared to August 2020,” said Florin Cîţu, according to Agerpres.

The annual inflation rate fell to 2.5% in September this year, from 2.7% in August, even if food prices rose by 4.96%, services by 2.89%, and non-food goods by 0.62%, according to data published on Monday by the National Institute of Statistics (INS).

“Consumer prices in September 2020, compared to September 2019, increased by 2.5%. The annual rate calculated on the basis of the harmonized index of consumer prices (HICP) is of 2.1%. The average rate of consumer prices in the last 12 months (October 2019 – September 2020) compared to the previous 12 months (October 2018 – September 2019), calculated on the basis of the CPI, is of 3.0%. Determined on the basis of the HICP, the average rate is of 2.8%,” states the INS release.

The annual CPI inflation rate for the end of this year and next year is forecast at 2.7% and 2.5%, respectively, according to the Inflation Report published by the National Bank of Romania.