Inflation in Romania
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
|Inflation Rate (CPI, annual variation in %)||-0.6||-1.5||1.3||4.6||3.8|
5 years of economic forecasts for more than 30 economic indicators.
Romania Inflation Chart
Source: National Institute of Statistics and FocusEconomics calculations.
|Bond Yield||4.49||0.23 %||Dec 31|
|Exchange Rate||4.26||-0.34 %||Dec 31|
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October 14, 2021
Industrial output growth moderated to 0.5% in August from 5.9% in July, marking the lowest result since February.
October 12, 2021
Consumer prices increased 0.84% over the previous month in September, picking up from August's 0.24% increase.
October 5, 2021
At its 5 October meeting, the National Bank of Romania (NBR) raised the policy rate to 1.50% from 1.25%.
September 14, 2021
Industrial output grew 5.8% year-on-year in July, moderating from June’s 12.8% increase.
September 10, 2021
Consumer prices increased 0.24% over the previous month in August, slowing down from the 0.97% rise logged in July.