Romania: Inflation rises in March from February
Latest reading: Consumer prices were up 9.9% in annual terms in March, following a 9.3% rise in the previous month. As such, the reading remained sharply above the Central Bank’s 1.5–3.5% target range.
Relative to the prior month’s figures, price pressures were higher for non-food goods in March (+10.9% on a year-on-year basis vs +9.4% in February). In contrast, there were reduced price pressures for food (+7.7% vs +7.9% in February) and services (+11.1% vs +11.4% in February).
Lastly, consumer prices increased 0.78% in March on a month-on-month basis, following a 0.59% rise in the previous month.
Panelist insight: EIU analysts commented on the outlook:
“We now expect inflation to remain elevated at close to 10% year on year until mid-2026, with the energy price trajectory dependent on the length and severity of the [Iran war]. Factors supporting lower inflation in 2026 include a slowdown in wage growth, which should help to bring services inflation down. […] Less efficient supply chains, loose fiscal policy and tighter labour market trends will keep inflation elevated versus the EU average. The onset of recovery, especially in the household sector, will further add to inflationary pressures.”