Romania: Inflation reignites in August on higher energy prices
September 12, 2018
Consumer prices increased 0.3% over the previous month in August, contrasting July’s 0.5% drop. Higher prices for non-food goods and for services drove the result, offsetting lower prices for food goods. Electric energy, gas and central heating recorded the strongest increase in prices, while fruit and tinned fruit recorded the largest decrease.
Inflation rose from July’s six-month low of 4.6% to 5.1% in August, and thus moved further above the Central Bank’s target range of 1.5%–3.5% where it has been for eight consecutive months. Meanwhile, annual average inflation rose from 3.9% in July to 4.2% in August, the highest level since November 2013.
Romania Inflation Forecast
FocusEconomics Consensus Forecast panelists see inflation averaging 3.8% in 2018, which is unchanged from last month’s forecast. For 2019, panelists expect average inflation of 3.2%.