Romania: Inflation declines to lowest level since March 2022 in April
Inflation dropped to 11.2% in April, following March’s 14.5%. April’s figure represented the weakest inflation rate since March 2022 and undershot market expectations. The moderation was broad-based, with reduced price pressures recorded for food, non-food goods, and services.
Annual average inflation fell to 15.0% in April (March: 15.3%).
Finally, consumer prices rose a seasonally adjusted 0.75% in April over the previous month, below the 1.01% rise seen in March. April’s result marked the weakest reading since January.
On the outlook, analysts at the EIU commented:
“Broad-based inflationary pressures will remain strong throughout 2023, from both the supply and demand side. On the demand side, a still-relaxed fiscal stance will be supportive of price rises. Further stabilization of energy costs, the resolution of supply-chain disruptions and previous monetary policy tightening will cause inflation to moderate more significantly from 2024.”