Annual inflation up to 5.14% in December 2024

Business Forum

14 January, 2025 at 9:21 AM

The annual inflation rate rose to 5.14% in December 2024 from 5.11% in November, as food goods prices rose by 5.09%, non-food goods prices by 4.38% and services by 7.10%, according to data released Tuesday by the National Institute of Statistics (NIS).

The consumer price index in December 2024 compared to November 2024 was up by 0.29%. The annual inflation rate in December 2024 compared to December 2023 was 5.1%. The average rate of change in consumer prices in the last 12 months (January 2024 to December 2024) compared to the previous 12 months (January 2023 to December 2023) was 5.6%, according to the NSI.

The harmonized index of consumer prices in December 2024 compared to November 2024 was up by 0.25%. The annual rate of inflation in December 2024 compared with December 2023 calculated on the basis of the harmonized index of consumer prices (HICP) was 5.5%. The average rate of change in consumer prices in the last 12 months (January 2024 - December 2024) compared with the previous 12 months (January 2023 - December 2023) determined on the basis of the HICP was 5.8%.

The National Bank of Romania (NBR) has revised up its inflation forecast for the end of 2024 to 4.9% from 4% previously and expects it to reach 3.5% at the end of 2025, according to data presented in November 2024 by NBR Governor Mugur Isărescu.

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