Romania: Inflation hits a new multi-year high in January moving above the Central Bank's target
February 14, 2018
Consumer prices rose 0.8% in January over the previous month, which was well above December’s 0.3% increase. Behind the increase were higher prices for non-food and food goods, as well as for services. Among food prices, the strongest increases were recorded for fruit and vegetables; in the non-food category, prices for fuels and electricity rose the most.
Inflation came in at a multi-year high of 4.3% in January, up from 3.3% in December. As a result, inflation moved firmly above the Central Bank’s target range of 1.5%–3.5%. Meanwhile, annual average inflation rose from 1.3% in December to 1.7% in January, the highest level in over three years.
Romania Inflation Forecast
FocusEconomics Consensus Forecast panelists see inflation averaging 3.8% in 2018, which is unchanged from last month’s forecast. For 2019, panelists expect average inflation of 3.2%.