Romania: Inflation edges down in March
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.”