Romania‘s National Institute of Statistics (INS) announced on Monday that the country’s annual inflation rate for January 2022 rose to 8.35% from 8.19% in December, according to Agerpres.
The price of non-food goods increased by 10.18%, food prices rose by 7.24% and the prices of services grew by 5.66%.
„Consumer prices in January 2022, compared to December 2021, increased by 1.5%. The annual inflation rate in January 2022 compared to January 2021 is 8.4%. The average rate of consumer prices in the last 12 months was 5.5% compared to the previous 12 months ,” reads the INS press release.
Romania’s central bank (BNR) on Friday increased raised its inflation forecast for 2022 to 9.6% from 5.9% predicted in November, way above the upper end of its target band of 1.5-3.5%, due to a fast rise in energy prices.
The BNR increased its monetary policy rate on Wednesday to 2.50% from 2.00% – its fourth rate hike since May 2018.