Romanian GDP Growth Accelerates; Inflation Rises

(RTTNews) - Romania's economic growth improved in the fourth quarter, preliminary data from the statistical office showed on Wednesday.

On an unadjusted basis, GDP expanded 2.9 percent annually in the December quarter, faster than the 1.1 percent rise in the preceding three-month period.

Meanwhile, seasonally adjusted GDP growth slowed to 1.0 percent from 3.2 percent in the previous quarter.

Compared to the previous quarter, GDP dropped a seasonally adjusted 0.4 percent in the fourth quarter, reversing 0.8 percent expansion in the third quarter.

In 2023, GDP increased by 2.0 percent as compared to 2022.

The second estimate is set to be published on March 8.

Separate official data showed that consumer price inflation rose to a 3-month high of 7.4 percent in January from 6.6 percent in December.

Costs for services grew the most by 10.9 percent from last year, followed by prices for non-food goods by 7.3 percent. Food prices alone showed an increase of 5.7 percent.

On a monthly basis, consumer prices moved up 1.1 percent at the start of the year.