The annual inflation rate in EU dropped in February to 2.8%, from 3.1% in January, but Romania is, for the second month in a row, the country with the highest inflation in EU, according to data released by Eurostat on Monday. In February, EU member countries with the lowest annual inflation rates were Latvia and Denmark (both with 0.6%), followed by Italy (with 0.8% inflation). At the opposite pole, EU countries with the highest annual inflation rates were Romania (7.1%), Croatia (4.8%) and Estonia (4.4%). Compared to January 2024, the annual inflation rate dropped in 20 member states, Romania included, from 7.3% to 7.1%, remained stable in 5 countries and went up in tw member states. In the euro area, the annual inflation rate dropped from 2.8% in January to 2.6% in February. Eurostat data show that core inflation, after eliminating prices for volatile goods, such as energy and food, dropped to 3.3% in February from 3.6% in January. Another indicator, which besides energy and food prices, excludes prices for cigarettes and alcohol, dropped to 3.1% from 3.3% in January. Core inflation is the indicator attentively monitored by ECB in elaborating its monetary policy decisions. In Romania's case, the National Statistic Institute (INS) previosuly informed that the annual inflation rate dropped in February 2024 to 7.23%, from 7.41% in January. When food prices went up by 4.48%, notn food by 7.82% and services by 11%. According to the source mentioned, the consumer price index in February 2024 compared to January 2024 was 100.78%. The annual inflation rate in February compared to February 2023, calculated based on the consumer price index was 7.1%. The average rate of consumer price modification in the last 12 months (March 2023-February 2024) against the previous 12 months (March 2022-February 2023) dwas 8.7%. The Romanian central bank(BNR) reviewed as dropping to 7.4% the inflation prognosis for the end of the year, from 4.8% previously and anticipates that it would reach 5.3% at the end of 2025, according to data presented in February by BNR governor Mugur Isarescu.
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