Romania Inflation July 2016

Romania

Romania: Annual drop in consumer prices deepens in July

August 10, 2016

In July, consumer prices dropped 0.2% over the previous month, which is in line with June’s reading. July’s result mainly reflected lower prices for non-food products, which more than offset higher prices for goods and services.

In annual terms, consumer prices recorded a 0.8% drop in July, which came in slightly below the 0.7% decline registered in June. Consumer prices had been following a downward trajectory since June 2015, mainly due to the reduction of the Value-added Tax (VAT) on food items and beverages that was implemented in June 2016 and a cut in the general VAT that has kept inflationary pressures muted. Inflation remains far below the Central Bank’s tolerance margin of plus/minus 1.0% around its 2.5% target. The annual average variation of consumer prices inched up from minus 2.0% to minus 1.9%.

FocusEconomics Consensus Forecast panelists see consumer prices falling 0.7% on average in 2016, which is up 0.2 percentage points from last month’s forecast. For 2017, panelists expect average inflation of 2.3%.


Author:, Economist

Sample Report

Looking for forecasts related to Inflation in Romania? Download a sample report now.

Download

Romania Inflation Chart


Romania Inflation July 2016

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


Romania Economic News

  • Romania: Industrial output rebounds in April

    June 13, 2019

    Industrial output rose 1.4% on an annual basis in April, contrasting a 0.2% year-on-year fall in March.

    Read more

  • Romania: Inflation stable in May

    June 12, 2019

    Consumer prices increased 0.5% month-on-month in May, down from 0.6% in April.

    Read more

  • Romania: Growth jumps in Q1

    June 6, 2019

    A comprehensive estimate released by the Statistical Institute on 6 June revealed that output grew 5.0% year-on-year in the first quarter (Q4 2018: +4.1% year-on-year)—the strongest outturn in more than a year.

    Read more

  • Romania: Growth jumps in Q1

    May 29, 2019

    Romania’s economy grew 5.0% year-on-year in the first quarter, according to a preliminary estimate released by the Statistical Institute on 15 May.

    Read more

  • Romania: NBR stays put despite new hawkish tilt

    May 15, 2019

    On 15 May, the National Bank of Romania (NBR) kept the policy rate unchanged at 2.50%, while also leaving the deposit facility rate at 1.50%, the lending facility (Lombard) rate at 3.50% and maintaining the reserve requirements on both leu- and foreign currency-denominated liabilities.

    Read more

More news

Search form