Romania’s annual inflation rate dropped slightly to 6.6% in December 2023, from 6.7% in November and 8.1 in October, according to the official report released by the statistics office INS on Friday, January 12. 

The average rate of change in consumer prices in the last 12 months (January-December 2023) compared to the year before (January-December 2022) was 10.4%, the same source said.

The highest price increases in December 2023 vs December 2022 were recorded in the services sector - 11.2%. Meanwhile, food prices increased by 5.8%, and non-food goods got 5.5% more expensive.

Among foods, the most significant year-over-year price increases were for beer - 14.5%, fresh fish - 14.1%, and the other food products category - 13%. When it comes to non-food goods, detergents remained the star of price increases with 23.2%, Economedia.ro reported.

The increase in services tariffs was mainly influenced by a 20.8% hike in public utility bills (water, sewage), while postal services increased their prices by 16.1%, and healthcare rates went up by 15.2%.

irina.marica@romania-insider.com

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