Inflation in Romania drops to 15.3% despite price hikes for sugar, cooking oil, gas

The annual rate of inflation in Romania fell to 15.3% in October, from 15.9% the month prior, despite the fact that prices rose steadily over the same period.

The biggest price hikes were for sugar (62%), cooking oil (43%), and gas (40%), according to Romania’s National Institute of Statistics (INS). The price of potatoes, butter, electricity, cheese, milk, bread, and eggs also increased.

Compared to October 2021, non-food goods have become more expensive by 14.37%, food goods by 20.58%, and services by 8.31%.

From month to month, price increases remained constant. Thus, consumer prices in October 2022 compared to September 2022 increased by 1.3%, the same growth rate being reported in September 2022 compared to August 2022.

"The inflation rate since the beginning of the year (October 2022 compared to December 2021) is 14.5%. The annual inflation rate in October 2022 compared to October 2021 is 15.3%. The average rate of change in consumer prices in the last 12 months (November 2021 – October 2022) compared to the previous 12 months (November 2020 – October 2021) is 12.4%," the INS said.

radu@romania-insider.com

(Photo source: Michaeljayberlin/Dreamstime)

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Inflation in Romania drops to 15.3% despite price hikes for sugar, cooking oil, gas

The annual rate of inflation in Romania fell to 15.3% in October, from 15.9% the month prior, despite the fact that prices rose steadily over the same period.

The biggest price hikes were for sugar (62%), cooking oil (43%), and gas (40%), according to Romania’s National Institute of Statistics (INS). The price of potatoes, butter, electricity, cheese, milk, bread, and eggs also increased.

Compared to October 2021, non-food goods have become more expensive by 14.37%, food goods by 20.58%, and services by 8.31%.

From month to month, price increases remained constant. Thus, consumer prices in October 2022 compared to September 2022 increased by 1.3%, the same growth rate being reported in September 2022 compared to August 2022.

"The inflation rate since the beginning of the year (October 2022 compared to December 2021) is 14.5%. The annual inflation rate in October 2022 compared to October 2021 is 15.3%. The average rate of change in consumer prices in the last 12 months (November 2021 – October 2022) compared to the previous 12 months (November 2020 – October 2021) is 12.4%," the INS said.

radu@romania-insider.com

(Photo source: Michaeljayberlin/Dreamstime)

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