The annual inflation rate increases from 8.5% in February to 10.2% in March 2022

By rbj
The annual inflation rate rose to 10.2% in March 2022, from 8.53% in February, according to data released Tuesday by the National Institute of Statistics (INS). This increased food prices by 11.20%, followed by non-food prices (+ 10.86%). Services rose by 6.53%.
“Consumer prices in March 2022 compared to February 2022 increased by 1.9%. The inflation rate at the beginning of the year (March 2022 compared to December 2021) is 4%. The annual inflation rate in March 2022 compared to March 2021 is 10.2%, according to INS.
According to the quoted source, the harmonized index of consumer prices in March 2022 compared to February 2022 is 101.95%. The annual inflation rate in March 2022 compared to March 2021 calculated on the basis of the Harmonized Index of Consumer Prices (HICP) is 9.6%. The average rate of consumer prices in the last 12 months (April 2021 – March 2022) compared to the previous 12 months (April 2020 – March 2021) determined on the basis of the HICP is 5.6%.
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.
“The projected trajectory of the annual CPI inflation rate is substantially influenced by the future evolution of energy product prices, burdened by major uncertainties. electricity and natural gas for the population, according to the legislation in force at the time of publication of this Report, the annual inflation rate will gradually decelerate until the first quarter of 2023, respectively abruptly in April 2023, amid a broad favorable base effect The projected values ​​are 9.6% in December 2022 and 3.2% in December 2023, respectively, with a significant direct contribution of 6.3 percentage points to the dynamics of energy prices (fuels, electricity, natural gas). by the end of this year, “the report said.
The balance of risks in relation to the annual inflation rate is estimated to be slightly inclined in the direction of deviations upwards from the trajectory described in the baseline scenario. In the current context, appreciable sources of uncertainty continue to come from future developments in the energy and health crisis.