The annual inflation rate went down to 11.23% in April 2023, from 14.53% in March 2023, as food prices rose 19.84%, non-food prices went up 5.83% and service prices increased 10.64%, according to data the National Institute of Statistics (INS) released on Friday, write Agerpres.

„The consumer price index in April 2023 compared to March 2023 is 100.75%. The inflation rate since the beginning of the year (April 2023 compared to December 2022) is 3.1%. The annual inflation rate in April 2023 compared to April 2022 stands at 11.2%. The average rate of change in consumer prices in the last 12 months (May 2022 – April 2023) compared to the previous 12 months (May 2021 – April 2022) accounts for 15.0%,” the INS release reads.

According to the quoted source, the harmonized index of consumer prices in April 2023 compared to March 2023 is 100.78%. The annual inflation rate in April 2023 compared to April 2022 calculated based on the harmonized index of consumer prices (HICP) is 10.4%. The average rate of change in consumer prices in the last 12 months (May 2022 – April 2023) compared to the previous 12 months (May 2021 – April 2022) determined on the HICP is 13.0%.

The National Bank of Romania (BNR) is holding a press conference on Friday to present the Inflation Report – May 2023, hosted by BNR Governor Mugur Isarescu.

According to the central bank, the annual inflation rate will most likely continue to decline on a trajectory almost similar to that previously forecast, falling to the level of one digit in the third quarter of this year.