February 14 (SeeNews) - Romania’s consumer prices rose by 7.4% on the year in January, following a 6.6% annual increase in December 2023, the statistical office, INS, said on Wednesday.
The average annual inflation rate in the last 12 months was 9.8%, INS said in a data release.
Food prices rose by 5.64% year-on-year in January, while non-food prices increased by 7.36%. The price of services grew by 10.91%.
In January, Romania's consumer price index (CPI) increased by 1.1% compared to the previous month, with service prices rising by 1.55%, food prices growing by 1.34%, and non-food prices adding 0.74%.
On Tuesday, Romania's central bank said it decided to keep its monetary policy rate unchanged at 7% on expectations of a slowdown in inflation. The annual inflation rate is anticipated to climb in January but then decrease towards the end of the year, approaching the upper bound of the variation band of the 2.5% ±1 percentage point flat target by December 2024, the central bank said.