Latest reading: Harmonized consumer prices increased 2.4% in annual terms in February, following a 2.9% increase in the prior month....
Inflation in Romania
Consumer price inflation in Romania averaged 4.2% in the ten years to 2024, in line with the South-Eastern Europe regional average of 15.2%. The 2024 average figure was 5.6%. For more information on inflation, visit our dedicated page.
Romania Inflation Chart
Note: This chart displays Inflation Rate (CPI, annual variation in %) for Romania from 2014 to 2025.
Source: Macrobond.
Romania Inflation Data
| 2021 | 2022 | 2023 | 2024 | 2025 | |
|---|---|---|---|---|---|
| Inflation (CPI, ann. var. %, aop) | 5.0 | 13.7 | 10.5 | 5.6 | 7.3 |
| Inflation (CPI, ann. var. %, eop) | 8.2 | 16.4 | 6.6 | 5.1 | 9.7 |
| Inflation (HICP, ann. var. %, aop) | 4.1 | 12.0 | 9.7 | 5.8 | 7.0 |
| Inflation (Core, ann. var. %, eop) | 4.8 | 13.8 | 8.4 | 6.0 | - |
| Inflation (PPI, ann. var. %, aop) | 14.9 | 43.6 | 4.7 | -2.2 | 3.3 |
Inflation eases in February from January
Latest reading: Consumer prices rose 9.3% in annual terms in February, following a 9.6% increase in the previous month. February's reading was the weakest since July 2025. Relative to the previous month's data, there were milder price pressures for non-food goods (+9.4% on a year-on-year basis vs +10.0% in January) and services (+11.4% vs +11.6% in January). Finally, the change in food prices was the same as in the prior month (+7.9% in February and January). Lastly, consumer prices increased 0.59% in February on a month-on-month basis, following a 0.86% increase in the prior month.
Panelist insight: Commenting on the outlook, ING’s Valentin Tataru and Stefan Posea stated: “Our long-held view has been that inflation would hover between 9% and 10% until the summer, then decline more visibly as last year’s tax hikes and electricity market liberalisation drop out of the annual comparison. However, the emergence of a new geopolitical conflict - with no clear resolution in sight- now suggests additional upward pressure in the March-April readings, primarily through higher oil prices. This would temporarily push headline inflation back above 10.0%.”
Consensus Forecasts and Projections for the next ten years
How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Romanian inflation projections for the next ten years from a panel of 30 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable inflation forecast available for Romanian inflation.
Download one of our sample reports to visualize what a Consensus Forecast is and see our Romanian inflation projections.
Want to get access to the full dataset of Romanian inflation forecasts? Send an email to info@focus-economics.com.
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