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Annual inflation in Romania rises to 8.53pct in February 2022
1. The Consumer Price Index (CPI) – indicator for determining inflation at national level
? Consumer prices were up 0.6% in February 2022 from January 2022.
? The inflation rate since the beginning of the year (February 2022 compared to December 2021) is 2.1%.
? The annual inflation rate in February 2022 compared to February 2021 is 8.5%.
? The average consumer price rate over the last 12 months (March 2021-February 2022) as compared to the previous 12 months (March 2020-February 2021) is 6.0%.
2. The Harmonised Index of Consumer Prices (HICP) – indicator for determining inflation at the level of EU Member States
? The Harmonised Index of Consumer Prices in February 2022 compared to January 2022 is 101.04%.
? The HICP-based annual inflation rate in February 2022 compared to February 2021 is 7.9%.
? The HICP-based average consumer price rate over the last 12 months (March 2021-February 2022) as compared to the previous 12 months (March 2020-February 2021) is 5.0%.
Romania's annual inflation rose to 8.53% in February 2022, from 8.35% in January, as prices for non-food goods rose by 9.33%, for foods by 8.84%, and for services by 6.08%, according to data published on Monday by the National Institute of Statistics (INS).
"Consumer prices in February 2022 compared with January 2022 increased by 0.6%. Inflation at the beginning of the year (February 2022 compared to December 2021) is 2.1%. The annual inflation rate in February 2022 as against 2021 is 8.5%. The average increase rate in consumer prices in the last 12 months (March 2021 - February 2022) as against the previous 12 months (March 2020 - February 2021) is 6.0%," according to INS.
The Harmonised Index of Consumer Prices (HCIP) in February 2022 is 101.04% over January 2022. The February 2022 annual inflation against HICP is 7.9%. The average rate of consumer prices in the last 12 months (March 2021 - February 2022) compared with the previous 12 months (March 2020 - February 2021) against HICP is 5.0%.
The National Bank of Romania (BNR) is expecting inflation to surge to 11.2% at the end of the Q2 2022, 10.2% at the end of Q3 2022, and 9.6% at the end of Q4 2022, according to its Quarterly Inflation Report published at the end of the last week.