Annual inflation rate likely to increase somewhat more pronounced in coming months than anticipated

The annual inflation rate is likely to rise somewhat more pronounced in the coming months than anticipated in February's medium-term forecast, which indicated its rise to 11.2 pct in June, followed by a gradual decrease, to 9.6 pct in December 2022, according to the monetary policy session minutes that took place on April 5, 2022.

Accountable for the further deterioration of the near inflation outlook continues to be the adverse shocks on the supply side, Council members stressed, noting that, in the current context, its main determinants are the much broader increases anticipated to be recorded by fuel prices, and in particular by the prices of processed foods, mainly under the influence of a stronger increase in prices of food and agri-food raw materials, against the background of the war in Ukraine and the international sanctions established, Agerpres.ro informs.