Romania: Inflation steady in June

Consumer prices remained flat over the previous month in June, following a 0.5% rise in May. Behind the result were higher prices for non-food goods and for services offsetting lower prices for and food goods. The strongest increases were recorded for fuels; on the other hand, the strongest declines were recorded for fruit and vegetable.

Inflation stayed put at May’s multi-year high of 5.4% in June. As a result, inflation remained well above the Central Bank’s target range of 1.5%–3.5%, where it has been for six consecutive months. Consequently, annual average inflation rose from 3.3% in May to 3.6% in June, the highest level since December 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%.