In July, consumer prices dropped 0.35% over the previous month, which followed the 0.29% fall recorded in June and marked the second monthly drop. The decrease was the result of lower food prices, which more than offset higher prices for services. Annual headline inflation plunged from 7.9% in June to 4.8% July, as the effect of last year's value added tax increase waned. The reading represents the lowest level since June 2010 and overshot market expectations that had inflation dropping to 5.3%. As a result, annual average inflation dropped from 7.8% in June to 7.6% in July. At its 3 July meeting, the Central Bank left the monetary policy rate unchanged at the record low of 6.25% for the tenth consecutive meeting, as inflation slows and policy makers seek to rekindle economic activity amid the U.S. and European debt crises. The Bank will next meet on 29 September. The Central Bank has set a 3.0% inflation target for this year with a 1.0 percentage point tolerance margin. However, the Bank cut its forecasts of year-end inflation to 4.6% from the previous 5.1% forecast this year, and to 3.5% from 3.6% in 2012.
Inflation fell in July as effect of last year?s tax increase waned
August 10, 2011
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Romania Economic News
October 12, 2016
Industrial output expanded 5.3% in August from the same month last year, which was the fastest expansion in one year.
October 11, 2016
In September, consumer prices inched down 0.1% from the previous month, contrasting August’s 0.1% expansion.
September 14, 2016
Industrial output contracted 3.4% in July over the same month last year, which was the fastest contraction rate in almost seven years and contrasted the 1.1% expansion recorded in June.
September 9, 2016
In August, consumer prices inched up 0.1% over the previous month, rebounding from July’s 0.2% contraction.
September 6, 2016
In second quarter of 2016, the economy expanded 6.0% over the same period of the previous year, the fastest rate of growth since Q3 2008, according to detailed data released on 6 September.