Romania Inflation March 2021

Romania

Romania: Inflation edges down in March

April 13, 2021

Consumer prices increased 0.38% over the previous month in March, a smaller rise than the 0.41% reading logged in February. Looking at the details of the release, March’s downturn was largely owing to a softer rise for food and non-food goods. Meanwhile, costs for services rose at a quicker pace than in February.

Inflation ticked down to 3.1% in March, from February’s 3.2%. Meanwhile, annual average inflation was unchanged at February's 2.6% in March. Lastly, core inflation fell to 2.9% from February’s 3.4%.

Commenting on the inflation outlook Valentin Tataru, chief economist Romania, at ING said:

“We expect inflation to remain around current levels for the next couple of quarters, with the central bank’s 3.5% upper bound likely to be tested in the last quarter of 2021. We maintain our 3.3% year-end forecast, with risks skewed to the upside.”

FocusEconomics Consensus Forecast panelists see inflation averaging 3.1% in 2021, which is up 0.3 percentage points from last month’s forecast. For 2022, panelists see inflation averaging 2.7%.


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Romania Inflation March 2021 0

Note: Year-on-year and month-on-month variation of consumer price index in %.
Source: National Institute of Statistics.


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