BNR: Annual inflation rate to fall to one digit in Q3 2023

The annual inflation rate is likely to continue to decline on a path almost similar to that previously forecast, dropping to the level of one digit in the third quarter of 2023, according to a press release from the National Bank of Romania (BNR).

The BNR Board of Directors reviewed and approved, in Wednesday's meeting, the Inflation Report, May 2023 edition, a document that incorporates the latest data and information available.

According to data from the National Institute of Statistics, published in April, the annual inflation rate fell to 14.53 percent in March 2023, from 15.5 percent in February 2023, as food products rose by 21.56 percent, non-food products by 11.06 percent and services by 10.83 percent.

The National Bank of Romania has revised downwards to 7 percent its inflation forecast for the end of this year and estimates inflation at 4.2 percent for the end of 2024, according to data presented in February by BNR Governor Mugur Isarescu.

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