Romanian inflation rises above expectations to 6.29% y/y in Sept

BUCHAREST: Romania's consumer price inflation exceeded expectations and rose to 6.29% on the year in September from 5.25% in August, its highest level in a decade, data from the National Statistics Board showed on Tuesday.

The median forecast of a Reuters poll of analysts put Romanian inflation at 5.83% year-on-year in September and at 6.6% in December, sharply above the central bank's current year-end forecast of 5.6%.

Data showed prices rose 0.84% on the month in September, with food prices up 0.95%, non-food prices up 0.73% and services up 0.96%.

Analysts expect the central bank to raise its benchmark interest rate on Nov. 9 at its last meeting this year after its quarter-point hike this month, its first since 2018. The median forecast puts the benchmark at 2.50% at mid-2022.