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Downward inflation trend in 2011, yet financial investment returns trailing behind

Inflation dipped beyond expectations in 2011, hitting 3.44 pct in November, whereas National Bank projections place it at 3.3 pct at the end of the year, but despite that, financial investment returns could still not catch up with it.

The stock market ended a year of decline; investments in the most liquid shares on the Bucharest Stock Exchange (BVB) scored a negative average return of minus 17.68 pct over the past 12 months, as measured by the BET index, which tracks the dynamics of the top liquid 10 issuers.
The investors who put money in stock traded on the RASDAQ over-the-counter market also registered an average negative return of 5.95 pct (RASDAQ-C index).

Over the period of reference, investments in mutual funds registered a positive average return of 3.44 pct (index MFI), in line with the November 2011 - November 2010 annualized inflation rate.

Those who saved in US dollars in the past 12 months saw their accounts appreciate by 3.21 pct, whereas savings in euro recorded an appreciation of just 0.75 percent, referenced to the national currency's exchange rate.

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