Finance Minister Adrian Cachiu announced that we will have a more marked reduction in inflation in March, noting that the government proposed that inflation should be in single digits by the end of this year.

At a press conference on Wednesday, Adrian Cachiu was asked what the government’s policy is to reduce inflation and when he thinks it will decrease significantly.

“Inflation is rising faster than it is falling, and it is worth being cautious when it starts to rise, or to intervene sooner, because when it comes down, it takes longer to ease. We have taken measures, and the most important is the regulation of energy prices for two years. This will allow the utility or regulated price component to no longer be reflected in the prices of goods and services. On the other hand, we have to be careful in the fuel part and in the field of food production, because we have to reduce our dependence on imports,” explained the Minister of Finance.

He stated that from March we can observe a more noticeable decrease in inflation.

“In terms of inflation, I think from March we will have a more marked decline in inflation, it’s a gradual decline. We have seen that BNR is optimistic about the approach to single-digit inflation, namely the third quarter, what we have proposed as a Government is that by the end of 2023, inflation will be single-digit. You have to act constantly. It cannot be said that what you have done is enough. We need to act in full adaptation, because, for example, in February we see the effect of the embargo on Russian oil, let’s see if we will have a shock regarding the supply prices in the retail sector of fuel delivery. Then we will make a decision if there are elements of intervention,” Adrian Cachiu also stated.

(source: news.ro)