The annual inflation rate is likely to fall to single-digit in the next quarter and to 7.1 percent in December 2023, compared to 7 percent in the previous projection, and then it will be reduced to 4.2 percent in December 2024, according to the Minute of the monetary policy meeting of the Board of Directors of the National Bank of Romania of May 10, 2023, write Agerpres.

„Regarding the future macro-economic developments, the members of the Council noted that the new assessments reconfirm the inflation outlook highlighted in the February forecast, indicating the further decrease of the annual inflation rate on a trajectory almost similar to the one previously anticipated. Therefore, the annual rate inflation is likely to fall to single-digit next quarter and to 7.1 percent in December 2023, from 7.0 percent in the previous projection, before easing to 4.2 percent in December 2024, the same as in the previous forecast, and at 3.9 percent in March 2025, remaining slightly above the target range at the end of the forecast horizon,” the quoted document reads.

According to the latest data of the National Institute of Statistics, published on May 12, the annual inflation rate decreased to 11.23% in April 2023, from 14.53% in March 2023, in the conditions in which food products increased in price by 19.84%, non-food items by 5.83%, and services by 10.64%.