Romania Inflation


Inflation drops in July to lowest level in nearly a year

Consumer prices dropped 0.3% over the previous month in July, which was below the virtually-flat reading recorded in June. The monthly result primarily reflected lower prices for food products, which offset increases in prices for non-food products and services.

Annual headline inflation dropped from 5.4% in June to 4.4% in July, marking the lowest level in nearly a year. Nevertheless, inflation remains well above the Central Bank's inflation target of 2.5% (plus/minus 1.0% tolerance margin). In addition, annual average inflation inched up from 5.0% in June to 5.1% in July.

The Central Bank foresees inflation ending the year at 3.1% in both 2013 and 2014. FocusEconomics Consensus Forecast panellists see inflation at 3.9% by the end of this year, which is up 0.1 percentage points from last month's forecast. For 2014, panellists anticipate an inflation rate of 3.6%.


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Romania Inflation Chart

Romania Inflation July 2013

Note: Year-on-year and month-on-month variation of consumer price index in %.
Source: National Institute of Statistics.

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