The annual inflation rate in Romania decreased in September 2024, reaching 4.62%, compared to 5.1% in August. This reduction occurred in the context in which food goods rose in price by 4.72%, non-food goods by 3.3%, and services registered a significant increase of 7.88%, according to data published on Friday by the National Institute of Statistics (INS).
“The consumer price index in September 2024 compared to August 2024 was 100.33%. The inflation rate since the beginning of the year (September 2024 compared to December 2023) was 3.8%. The annual inflation rate in September 2024 compared to September 2023 was 4.6%. The average rate of change in consumer prices in the last 12 months (October 2023 – September 2024) compared to the previous 12 months (October 2022 – September 2023) was 6.1%”, the INS statement states.
Also, the harmonized index of consumer prices in September 2024 compared to August 2024 was 100.40%. The annual inflation rate in September 2024, calculated based on the harmonized index of consumer prices (HICP), was 4.8%, and the average rate of change in consumer prices over the last 12 months, determined based on the HICP, was 6.4%.
In this context, the National Bank of Romania (BNR) revised down the inflation forecast for the end of 2024, setting it at 4%, compared to 4.9% previously. The governor of the BNR, Mugur Isărescu, anticipated that the inflation rate will reach 3.4% at the end of 2025.
According to the BNR’s analysis, the tendency to reduce the inflation rate will continue for almost the entire projection interval, although the pace of disinflation is expected to slow down noticeably in the second part of it.
“The trajectory is marked by some rhythm oscillations, mainly induced by basic effects associated with past developments: indirect tax increases in January 2024, with a favorable effect in January 2025; corrections of natural gas tariffs and prices for vegetables, fruits, eggs in the second quarter of 2024, with an unfavorable effect in the second quarter of 2025; fuel excise tax increase in July 2024, with a favorable effect in July 2025”, it was mentioned in the Quarterly Report on Inflation.
Source: www.cotidianul.ro
