Romania buildings

Romania Inflation

Romania Inflation

Inflation in Romania

Consumer price inflation in Romania averaged 3.4% in the ten years to 2022, which was below the Eastern Europe regional average of 7.7%. The 2022 average figure was 13.7%. For more inflation information, visit our dedicated page.

Romania Inflation Chart

Note: This chart displays Inflation Rate (CPI, annual variation in %) for Romania from 2014 to 2023.
Source: National Institute of Statistics Romania.

Romania Inflation Data

2018 2019 2020 2021 2022
Inflation (CPI, ann. var. %, aop) 4.6 3.8 2.6 5.0 13.7
Inflation (CPI, ann. var. %, eop) 3.3 4.0 2.1 8.2 16.4
Inflation (HICP, ann. var. %, aop) 4.1 3.9 2.3 4.1 12.0
Inflation (Core, ann. var. %, eop) 2.7 4.1 3.8 4.8 13.8
Inflation (PPI, ann. var. %, aop) 5.0 4.0 0.0 14.9 44.7

Inflation increases in January

Inflation came in at 7.4% in January, which was up from December’s 6.6%. January's reading was the highest inflation rate since October 2023. Looking at the details of the release, prices for food plunged in January, although prices for non-food goods grewat a quicker rate. Annual average inflation fell to 9.9% in January (December: 10.5%). Finally, consumer prices increased a seasonally adjusted 1.10% in January over the previous month, picking up from December's 0.26% increase. January's figure marked the highest reading since November 2022.

Consensus Forecasts and Projections for the next ten years

How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Romanian inflation projections for the next ten years from a panel of 28 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable inflation forecast available for Romanian inflation.

Download one of our sample reports to visualize what a Consensus Forecast is and see our Romanian inflation projections.

Want to get access to the full dataset of Romanian inflation forecasts? Send an email to info@focus-economics.com.

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