Annual inflation in Romania rose to 7.4 percent in January

In December, the annual inflation rate was 6.6 percent. The Romanian National Bank (BNR) previously indicated that the tax increases introduced by the Bucharest government in the fall of 2023 will accelerate inflation in the first months of 2024. In January, food prices exceeded the level of a year earlier by 5.6 percent, non-food products increased by 7.4 percent, and services by 10.9 percent. Postal services (26.64 percent), detergents (22.60 percent), and water and sewerage (17.76 percent), air transport (16.59 percent) and fresh fish ( 14.25 percent) increase in price. The largest price drop of 28.74 percent occurred in the case of flour compared to January 2023. In January, Romanian consumer prices rose by an average of 1.1 percent compared to December 2023.