Romania: Inflation hits fresh multi-year high in February moving further above the Central Bank's target
March 13, 2018
Consumer prices rose 0.3% in February over the previous month, which was well below January’s 0.8% rise. 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; in the non-food category, prices for fuels and electricity rose the most.
Inflation came in at a multi-year high of 4.7% in February, up from 4.3% in January. As a result, inflation moved further above the Central Bank’s target range of 1.5%–3.5%. Meanwhile, annual average inflation rose from 1.7% in January to 2.1% in February, the highest level since May 2014.
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%.