Seasonal Adjustment of Consumer Price Index as Against December Previous Year on Fuels in Romania between 2020 ynd 2022 Using Jdemetra+ 2.2.3

Modelling Consumer Price Index as strategy for inflation targeting is of significance in the existing global context. Moreover, in the current economic state, identifying seasonal patterns and modelling short term time series becomes essential in building a sustainable economy. The paper analyses a dataset on fuel prices, made available by National Institute of Statistics Romania with values from 2001 to 2022. Promising results on the seasonally adjusted series are obtained by employing the X13 package in JDemetra+ 2.2.3. The results show that the series has been log-transformed and no calendar effects are present. Moreover, seasonality tests show that the residuals are not affected by seasonality. The plot of the series components reveals a strong irregular component.