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Friday, November 2, 2007

Romanian Producer Prices September 2007

Romanian producer-price growth accelerated on an annual basis in September from the previous month, led by increased costs of mined materials, electricity and manufactured goods.

The cost of goods produced in factories and mines rose an annual 7 percent in September, compared with 5.6 percent in August, the Bucharest-based National Statistics Institute reported this week. Producer prices rose 1.2 percent on the month, the same pace as in August.

The leu weakened 2.3 percent against the euro and 2.2 percent against the dollar in September, making imports such as equipment and raw materials more expensive for Romanian companies.

The cost of manufactured goods increased an annual 6 percent in September from 4.4 percent in August, the institute said. Prices of electricity and sewerage services increased 7.8 percent from 7.7 percent the month before. Mined goods rose an annual 16 percent in September from 14 percent in August.

Consumer-price growth in September accelerated to an annual 6 percent, from 5 percent in August, as a drought boosted food prices and a weaker local currency made imports more expensive, the institute said on Oct. 10.

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