The annual inflation rate rose to 15.5% in February 2023, from 15.1% in January 2023, as food prices increased 22.35%, non-food prices went up 12.73% and services prices grew 10.38%, according to data the National Institute of Statistics (INS) released on Monday.
Consumer prices in February 2023, compared to January 2023, increased 0.98%, in the context of food prices rising 1.85%, non-food 0.45% and services 0.70%.
The average rate of change in consumer prices over the last 12 months (March 2022 - February 2023) compared to the previous 12 months (March 2021 - February 2022) is 14.9%.
In February compared to January, the prices of vegetables and canned vegetables increased the most, by 6.35%, fresh fruit prices advanced 4.88%, those of potatoes went up 4.61%, fresh fish prices grew 2.78%, and cheese prices rose 2.26%. Price increases were also recorded for eggs - 1.33%, sugar - 1.23%, milk - 1.01%, poultry - 1.2%, milling and bakery products - 1.13% and beer - 1.63%.
The food group saw a 1.83% drop in edible oil in February compared to January.
In the services category, the sharpest increase, 3.55%, in February compared to the previous month, was recorded in clothing and footwear manufacturing and repair. Rents increased by 1.1%, health care services by 1.58%, restaurants, cafes, canteen services went up 1.57%, and hygiene and cosmetic services +1.46%.
Air fares decreased by 12.28%, electricity 1.33% and heating 1.06%.
The National Bank of Romania expects the annual inflation rate to fall faster than previously anticipated, especially from the third quarter of this year, against the background of the extension of the energy price capping and compensation schemes until 31 March 2025 and the redefinition of their characteristics from 1 January 2023.
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