Industrial prices up 33.3% in 2021 in Romania

The average industrial prices in Romania increased by 33.3% through 2021, industrial price inflation data as of December reveal.

The goods traded on the Romanian market soared by 42.3%, while those exported/imported increased by 17.9%.

The wide differential reflects the higher weight held on the local market by the energy goods, for which the prices on average surged by 94% YoY as of December.

The dynamics of the industrial prices, however, vary within a very broad range: from 7.1% YoY for the non-durable consumer goods to 26.5% YoY for intermediary goods (not to mention the energy prices that nearly doubled).

On the domestic market, the prices of non-durable consumer goods may have increased by under 7% YoY in December (detailed breakdown is not available yet) after 6.4% YoY in November and 5.9% in October.

While the (relatively massive) rise of the prices at the level of intermediary goods indicates substantial inflationary pressures, the consumer price inflation remains in the single-digit area (+8.2% YoY in December).

It is interesting to note that the prices of non-durable consumer goods have increased at a roughly constant rate over the past couple of years - namely, they were less elastic to energy prices.

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