Romania’s inflation rate rose to 15.9% in September, up from 15.32% the previous month, the national statistics office, INS, said on Wednesday.
Food prices rose by a year-on-year rate of 19.12%, while non-food prices saw a 16.61% increase, INS said in a statement. The price of services went up by 8%.
The average consumer price inflation was 11.8% over the last 12 months, compared to the previous 12 months.
Romania’s central bank BNR in August recvied upwards increased its inflation forecast for 2022 to 13.9% from 12.5% predicted in May.
It was massively higher than the target of 1.5-3.5%, due to supply side constraints amplified by the war in Ukraine.
Romanian National Bank on Oct 5 raised its benchmark interest rate to 6.25% from 5.5%, which was higher than expected.
The move aimed to anchor inflation expectations over the medium term, as well as to encourage saving through higher bank rates.
