Inflation reached 13.8% in April. Monetary policies must be accompanied by diverse and effective economic policies

By Andra Beltz
The annual inflation rate rose to 13.76% in April 2022, compared to April 2021, according to data released on Wednesday by the National Institute of Statistics (INS). Non-food goods increased by 16.35%, food by 13.54%, and services by 7.11%. The highest food prices were recorded for potatoes (over 40%), and for energy, gas almost doubled its price (85%).
“Consumer prices in April 2022, compared to March 2022, increased by 3.7%. The inflation rate at the beginning of the year (April 2022 compared to December 2021) is 7.9%. The annual inflation rate in April 2022 compared to April 2021 is 13.8%. The average rate of consumer prices in the last 12 months (May 2021 – April 2022) compared to the previous 12 months (May 2020 – April 2021) is 7.4% “, it is shown in an INS communiqué.
According to the quoted source, the harmonized index of consumer prices in April 2022, compared to March 2022 is 102.37%. The annual inflation rate in April 2022 compared to April 2021 calculated on the basis of the Harmonized Index of Consumer Prices (HICP) is 11.7%. The average rate of consumer prices in the last 12 months (May 2021 – April 2022) compared to the previous 12 months (May 2020 – April 2021) determined on the basis of the HICP is 6.4%.
The highest food prices were for potatoes (41%), oil (38%), flour, corn, bread (20%).
Gas prices have risen by 85% and fuels by almost 36%, according to the INS.
The National Bank of Romania forecasts inflation of 11.2% at the end of the second quarter of 2022, 10.2% at the end of the third quarter of this year and 9.6% at the end of the fourth quarter of 2022, according to the Quarterly Inflation Report. forecasts inflation of 11.2% at the end of the second quarter of 2022, 10.2% at the end of the third quarter of this year and 9.6% at the end of the fourth quarter of 2022, according to the Quarterly Inflation Report.