Romania’s annual inflation rate rises again to 7.4% in January

Inflation in Romania rose in January 2024 to 7.41% year-over-year, from 6.6% in December 2023 and 6.7% in November, according to the official report released by the statistics office INS on Wednesday, February 14.

Food prices increased 5.64% in January 2024 vs January 2023, while non-food goods got 7.36% more expensive and services tariffs rose by 10.91%.

“The consumer price index in January 2024 compared to December 2023 was 101.10%. The annual inflation rate in January 2024 compared to January 2023 was 7.4%. The average rate of change in consumer prices over the last 12 months (February 2023 – January 2024) compared to the previous 12 months (February 2022 – January 2023) was 9.8%,” reads the INS report.

Among foods, the most significant year-over-year price increases were for fresh fish - 14.25%, canned fruits - 13.77%, and beer - 13.36%. When it comes to non-food goods, detergents remained the star of price increases with 22.6%, according to News.ro.

The increase in services tariffs was mainly influenced by a 26.64% hike in postal services and a 17.76% growth in public utility bills (water, sewage).

(Photo source: Tero Vesalainen/Dreamstime.com)