Food prices, slightly on the rise at the beginning of the year | Progresiv

The beginning of the year came with a softening of the price increases compared to the end of 2019, but compared to the same month of 2019, the consumer prices of food products had an advance of 4.75%.

Moreover, the data from the National Institute of Statistics shows that the biggest contribution to the increase in consumer prices comes from food products, followed by services (+ 4.01%) and only after by non-food products (+ 2.68%).

In the top of foods whose prices reported the highest increase in the first month of the year are the vegetables and canned vegetables, fresh fruits, but also pork meat.

Data from the National Institute of Statistics shows that in a single month - January 2020 compared to December 2019, pork increased by 1.78%. As a result of rising prices in raw materials, meat preparations also cost more. Official data shows a 0.95% increase in January 2020 compared to the end of last year.

There is no food on the list of food commodities published by the NIS, for which the price has not increased in the first month of this year. On the other hand, the smallest evolutions were reported on bees honey (+ 0.13%) and coffee (+ 0.17%).

For 2020, the National Bank of Romania has reduced the inflation forecast from 3.1% to 3%, and for 2021 an inflation rate of 3.2% is taken into account.