RO households’ consumption basket up real 20% versus 2019, roughly similar in structure

While the structure of the consumer basket in Romania has not changed dramatically in the first quarter of this year compared to the pre-pandemic period (Q1, 2019), the value of the consumer basket has increased significantly, according to data published by the statistics office INS.

Specifically, the value of the consumer basket increased to RON 3,268 this year from RON 2,347 in 2019, by 39% compared to an average consumer price inflation of 16%.

The prices of food and non-food goods have increased over the three-year period by 17%, while the prices of the services increased by only 13%.

The consumption basket of an average Romanian family thus increased by nearly 20% in real terms, according to data published by the statistics office INS.

The structure of consumption has changed marginally, in the expected direction: housing expenditures increased as a share of the total to 19.1% from 18.6%, while “other products and services”, mainly financial services, accounted for 6.5% of the total up from 5.4% in 2019.

The share of households’ budget allocated to transport remained more or less the same (7%) despite the sharp rise in the price of fuel.

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