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Romania Inflation August 2023

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.”

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