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Annual inflation rate up to 16.8% in November 2022
1. The Consumer Price Index (CPI) – indicator for determining inflation at national level
- Consumer prices were up 1.3% in November 2022 from October 2022.
- The inflation rate since the beginning of the year (November 2022 compared to December 2021) is 15.9%.
-The annual inflation rate in November 2022 compared to November 2021 is 16.8%.
- The average rate of change in consumer prices over the last 12 months (December 2021-November 2022) as compared to the previous 12 months (December 2020-November 2021) is 13.1%.
2. The Harmonised Index of Consumer Prices (HICP) – indicator for determining inflation across the EU
- The Harmonised Index of Consumer Prices in November 2022 compared to October 2022 is 101.24%.
-The HICP-based annual inflation rate in November 2022 compared to November 2021 is 14.6%.
- The HICP-based average rate of change in consumer prices over the last 12 months (December 2021-November 2022) as compared to the previous 12 months (December 2020-November 2021) is 11.4%.
The annual inflation rate rose to 16.8% in November 2022, from 15.32% in October, due to the increase in the price of food products by 21.55%, non-food products by 16.17% and services by 9.51%, according to the data of the National Institute of Statistics, published on Tuesday.
In November, consumer prices increased by 1.3% compared to the previous month, given that food products were more expensive by 1.54%, non-food products by 1.03% and services by 1.31%.
The inflation rate since the beginning of the year (November 2022 compared to December 2021) is 15.9%, and the average rate of change in consumer prices in the last 12 months (December 2021 - November 2022) compared to the previous 12 months (December 2020 - November 2021) ) is 13.1%.
The National Bank of Romania (BNR) increased the inflation forecast for the end of this year to 16.3% and estimates an inflation of 11.2% for the end of next year, according to the data presented in November by the BNR governor, Mugur Isarescu.