Annual inflation in Romania dropped to 15.1% in January 2023, from 16.4% in December 2022, as food prices increased by 22.47%, non-food prices by 11.88%, and service prices by 10.27%, according to data with the National Statistics Institute (INS) published on Tuesday, Agerpres informs.

January 2023 consumer prices were up 0.3% over December 2022 on a drop by almost 1% in non-food prices and a 1.5% increase in food prices and a 1.82% increase in service prices.

January 2023 annual inflation rate is 15.1%. The average rate of change in consumer prices in the last 12 months (February 2022 – January 2023) as against the previous 12 months (February 2021 – January 2022) is 14.3%.

The National Bank of Romania (BNR) is expecting annual inflation to decrease faster than previously anticipated, especially from the third quarter of 2023, as a result of energy price capping and subsidy schemes being extended to March 31, 2025 and redefined on January 1, 2023.

Agerpres