The annual inflation rate was 7.2% in February. The National Bank of Romania revised downwards, to 4.7%, the inflation forecast for 2024

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Bucharest, March 13, 2024RBJ – The annual inflation rate in February 2024 compared to February 2023 was 7.2%, according to data from the National Institute of Statistics. In January, the inflation rate was 7.4%, compared to January 2023.

“The inflation rate since the beginning of the year (February 2024 compared to December 2023) was 1.9%. The annual inflation rate in February 2024 compared to February 2023 was 7.2%”, INS data show.

The average rate of change in consumer prices in the last 12 months (March 2023 – February 2024) compared to the previous 12 months (March 2022 – February 2023) was 9.1%.

The consumer price index in February 2024 compared to January 2024 was 100.81%.

The harmonized index of consumer prices in February 2024 compared to January 2024 was 100.78%.

The annual inflation rate in February 2024 compared to February 2023 calculated on the basis of the Harmonized Index of Consumer Prices (HICP) was 7.1%.

The average rate of change in consumer prices in the last 12 months (March 2023 – February 2024) compared to the previous 12 months (March 2022 – February 2023) determined on the basis of the HIPC was 8.7%.

Food products went up in price by 4.48% in February 2024 compared to February 2023 and by 0.73% compared to January 2024. In this category, the price increased the most: canned fruit, by 13.37% , in February 2024 compared to February 2023, and by 0.91% compared to January 2024; Beer went up in price by 11.86% in February 2024 compared to February 2023, and by 0.29% compared to January 2024; fresh fish by 11.53%, in February 2024 compared to February 2023, and by 0.33% compared to January 2024.

Non-food goods rose in price by 7.82% in February 2024 compared to February 2023 and by 0.89% compared to January 2024. In this category, detergents rose in price the most, by 23.77%, in February 2024 compared to February 2023, and by 2.92% compared to January 2024.

Services rose in price by 11% in February 2024 compared to February 2023 and by 0.78% compared to January 2024. In this category, postal services rose in price the most, by 26.64%, in February 2024 compared to from February 2023, and by 0.03% compared to January 2024.

The National Bank of Romania (BNR) revised downwards, to 4.7%, the inflation forecast for the end of this year, from 4.8% in November, and anticipates that it will reach 3.5% at the end of 2025 .
The forecast trajectory was revised downward during 2024, in the context of the more favorable evolutions of the indicator in the recent period, especially in the food segment.

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