Annual inflation rate fell to 3.1pct in March

The annual inflation rate fell to 3.1% in March this year, from 3.2% in February, given that non-food goods rose by 4.37 %, food goods by 1.59%, and services by 2.21%, according to data released Tuesday by the National Institute of Statistics (INS).

"Consumer prices in March 2021 compared to March 2020 increased by 3.1%. The annual rate calculated on the basis of the Harmonized Index of Consumer Prices (HICP) is 2.5%. The average rate of consumer prices in the last 12 Monday (April 2020 - March 2021) compared to the previous 12 months (April 2019 - March 2020), calculated on the basis of the CPI, is 2.6%. Determined on the basis of the HICP, the average rate is 2.1%," states INS.

The National Bank of Romania (NBR) estimates inflation at 2% at the end of the first quarter of this year, 2.2% at the end of the second quarter and 2.4% at the end of the third quarter. At the end of the year, an inflation of 2.5% is estimated.