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The National Bank of Romania (BNR) forecasts an inflation rate of 11.2% for the end of the second quarter of 2022, 10.2% at the end of the third quarter of this year and 9.6% at the end of the fourth quarter of 2022, according to the quarterly report on inflation published on Friday.
"The current forecast implies an acceleration of inflation in the month of April 2022, at the expiration of the application period for the measures to cap and compensate prices in electrical energy and natural gas for the population, according to the legal provisions in force at the date of publishing the present report. Later, the annual inflation rate will gradually decelerate until the first quarter of 2023, respectively abrupt until April 2023, on the backdrop of an ample favorable base effect. The values projected are 9.6% in December 2022, respectively 3.2% in December 2023, with a significant direct contribution, of 6.3 percentage points, of the dynamic of energy good prices (fuels, electrical energy, natural gas) for the end of this year," the report says.
Adrian Vasilescu, strategy consultant at the BNR, recently explained that Romania hasn't had a two-figure inflation since 2004, when it dropped to 9% from over 10%
