Romania Inflation July 2020


Romania: Inflation rises again in July

August 12, 2020

Consumer prices were flat over the last month in July, below June's 0.08% rise. July's result marked the lowest reading in a year. Looking at the details of the release, lower prices for food goods were offset by higher prices for non-food goods and services.

Inflation rose to 2.8% in July from June’s 2.6%, thus moving further above the midpoint of the Central Bank’s target band of 1.5%–3.5%. Meanwhile, the trend pointed down slightly, with annual average inflation coming in at 3.2% in July (June: 3.3%). Lastly, core consumer prices fell 0.1% on an annual basis in July, which was below June's flat reading.

FocusEconomics Consensus Forecast panelists see inflation averaging 2.7% in 2020, which is up 0.1 percentage points from last month’s forecast. For 2021, panelists see inflation averaging 2.9%.


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Romania Inflation Chart

Romania Inflation July 20 20

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

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