Inflation in Romania

Romania Inflation | Economic News & Forecasts

Romania - Inflation

Inflation rises in September

Consumer prices increased 0.84% over the previous month in September, picking up from August's 0.24% increase. The result was driven by rising prices for food and non-food goods, as well as for services.

Inflation rose to 6.3% in September, above August’s 5.3%. September's result represented the highest inflation rate since June 2011. Accordingly, the trend pointed up, with annual average inflation coming in at 3.6% in September (August: 3.3%). Lastly, core inflation rose to 5.4% in September, from August’s 4.5%.

Kevin Daly, economist at Goldman Sachs, expects inflation to rise further towards end-year and highlights that September’s result could trigger additional rate hikes from the Central Bank:

“Looking ahead, we expect a further pickup in energy inflation in the coming months with more electricity price hikes in the pipeline. On our estimates, we expect inflation to rise to around 8% yoy in November and December. […] Looking ahead, given expected inflation developments in the coming months, we expect the NBR to hike again by 25bp at its November meeting.”

FocusEconomics Consensus Forecast panelists see inflation averaging 4.1% in 2021, which is up 0.2 percentage points from last month’s forecast. For 2022, panelists see inflation averaging 3.7%, which is up 0.3 percentage points from last month’s estimate.

Romania - Inflation Data

2015   2016   2017   2018   2019  
Inflation Rate (CPI, annual variation in %)-0.6  -1.5  1.3  4.6  3.8  

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Romania Inflation Chart


Romania Inflation
Note: Annual variation of consumer price index (CPI) in %.
Source: National Institute of Statistics and FocusEconomics calculations.

Romania Facts

Value Change Date
Bond Yield4.490.23 %Dec 31
Exchange Rate4.26-0.34 %Dec 31

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