Romania: Inflation remains stable in August
Inflation came in at 9.4% in August, matching July’s figure. August’s reading marked the weakest inflation rate since February 2022. Looking at the details of the release, prices for food rose at a softer rate in August. In contrast, prices for non-food goods rose at a stronger rate. Meanwhile, services prices were largely steady.
The trend pointed down, with annual average inflation coming in at 13.4% in August (July: 13.9%).
Lastly, consumer prices increased a seasonally adjusted 0.54% in August over the previous month, accelerating from July’s 0.15% increase.
Commenting on the release, Valentin Tataru, Romania chief economist at ING, stated:
“Today’s data are not as bad as the headline number suggests. Capping the mark-ups on basic food items seems to be working, services inflation looks to be softening, and even wage growth appears to be moderating slightly.”