INS: Inflation reached 13.8% in April. Highest price on gas

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The annual inflation rate increased to 13.76% in April 2022, compared to April 2021, according to data released on Wednesday by the National Institute of Statistics (INS). Non-food goods increased by 16.35%, food by 13.54%, and services by 7.11%. The highest food prices were recorded for potatoes (over 40%), and for energy, gas almost doubled its price (85%).

“Consumer prices were up 3.7% in April 2022 from March 2022. The inflation rate since the beginning of the year (April 2022 compared to December 2021) is 7.9%.  The annual inflation rate in April 2022 compared to April 2021 is 13.8%. The average consumer price rate over the last 12 months (May 2021April 2022) as compared to the previous 12 months (May 2020April 2021) is 7.4%,” says the INS press release.

The Harmonised Index of Consumer Prices in April 2022 compared to March 2022 is 102.37%. The HICPbased annual inflation rate in April 2022 compared to April 2021 is 11.7%, while the HICPbased average consumer price rate over the last 12 months (May 2021April 2022) as compared to the previous 12 months (May 2020April 2021) is 6.4%.

The highest food prices were for potatoes (41%), oil (38%), flour, corn, bread (20%). Gas prices have risen by 85% and fuels by almost 36%, according to the INS.

The Board of the National Bank of Romania, having convened for the meeting of 10 May 2022, decided to increase the monetary policy rate to 3.75 percent per annum, from 3.00 percent per annum, as of 11 May 2022, as well as to raise the lending (Lombard) facility rate to 4.75 percent per annum from 4.00 percent per annum and the deposit facility rate to 2.75 percent per annum from 2.00 percent per annum, as of 11 May 2022.

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