The level exceeds financial analyst estimates, who were expecting a 6.7-7.3 percent inflation rate for October.
Annual inflation tempered to 7.3 percent in September and 8.02 percent in August, after a 9.04 percent three-year record high in July.
Consumer prices rose 1.06 percent month-on-month in October.
According to local analysts, the main reason for this increase was local currency depreciation against the euro. However, they expect the annual rate to temper in November, “because the central bank is not willing to allow the leu to further depreciate,” according to TD Bank Financial Group Analyst Bartosz Pawlowski for Business Standard. Romania’s National Bank (BNR) Chief Economist Valentin Lazea said the prognosis for 6.7 percent inflation by the end of 2008 will be maintained.
