Higher consumer prices. Romania’s inflation rate peaked to 3.9 pct in March on higher oil prices and weaker RON, analysts estimate

Sorin Melenciuc 08/04/2019 | 15:22

Romania’s inflation rate rose by 0.1 percentage point in March to 3.9 percent driven by higher oil prices and a weaker Romanian currency, analysts estimate.  

In February, Romania’s annual inflation rate increased to 3.8 percent, from 3.3 percent in January, as food prices went up and RON’s depreciation refueled price increases in imported goods.

“In Romania, we expect March CPI to inch 0.1 percentage point higher to 3.9 percent year-on-year, driven by higher oil prices and a weaker Romanian leu. This is likely to be the peak for inflation this year, assuming no meaningful supply shocks (including from regulated prices) ahead,” ING Bank analysts said on Monday in a research note.

UniCredit Bank have a similar forecast but they expect inflation in Romania to post 3 peaks this year – in March, July and September.

The central bank had an inflation estimate of 3 percent for December 2019.

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