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May 24, 2022

INS: Romania’s annual inflation rate drops insignificantly to 5.4pct in June

Romania’s inflation rate stood at 5.4 percent in June 2018, slightly declining by 0.01 percentage points compared to the previous month (5.41 percent) due to a 3.86-percent increase in prices for food, a 7.82-percent increase in non-food prices and a 2.58-percent increase in service fees, according to the data published on Wednesday by the National Institute of Statistics (INS).

“In June 2018 compared to June 2017, the consumer prices increased by 5.4 percent. The annual rate calculated based on the harmonised index of consumer prices (HICP) is 4.7 percent. The average inflation rate over the past 12 months (July 2017 – June 2018) compared to the previous 12 months (July 2016 – June 2017), calculated on the CIP is 3.6 percent, while based on the HICP it stands at 2.9 percent,” a release of the INS informs.

At the beginning of May, the National Bank of Romania (BNR) upwardly revised its inflation forecast for the end of this year to 3.6 percent. The previous forecast indicated a 3.5 percent inflation in 2018.

For the end of 2019, the BNR estimates an inflation rate of 3 percent, down 0.1 percentage points.

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