Romania: Inflation hits multi-year high in December
January 12, 2018
Consumer prices rose 0.3% in December over the previous month, which was below November’s 0.7% 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 fresh fruit and milk; in the non-food category, prices for fuels and cigarettes rose the most.
Inflation came in at a multi-year high of 3.3% in December, up from 3.2% in November. Despite the increase, inflation remained within the Central Bank’s target range of 1.5%–3.5%. Annual average inflation rose from 1.0% in November to 1.3% in December, the highest level in over three years.
Romania Inflation Forecast
FocusEconomics Consensus Forecast panelists see inflation averaging 3.3% in 2018, which is up 0.2 percentage points from last month’s forecast. For 2019, panelists expect average inflation of 3.1%.